Letter from the MB of the Fund Manager

Dear reader,

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At a glance

The Development Accelerator (DA) was established in 2017 by the Ministry of Foreign Affairs and is managed by FMO NL Business.

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Statement of financial position

At December 31, 2020

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Statement of changes in fund capital

At December 31, 2020

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Statement of comprehensive income

At December 31, 2020

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Statement of cash flows

At December 31, 2020

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Summary of accounting policies

The annual accounts have been prepared in accordance with special purpose Generally Accepted Accounting Principles ("GAAP") and the remainder of this chapter describes the specific accounting policies applied.

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Notes to the annual accounts

In 2019 the Development Accelerator had no bank account but a current account with FMO which could be freely disposed of, among others for client drawdowns from committed but not disbursed amounts.

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Risk management

The Development Accelerator-DA (the Fund) aims to optimize development impact by providing early stage capital for projects in the Agri- food, water, health, and climate sectors in low- and middle-income countries.

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Colophon

Contact details Should you have any feedback or questions, please feel free to contact us.

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