The Nordic Development Fund is the joint multilateral

development finance institution Development finance institution (DFI), also known as a Development bank, is a financial institution that provides risk capital for economic development projects on a non-commercial basis. DFIs are often established and owned by governments or ...

Denmark Denmark is a Nordic countries, Nordic country in Northern Europe. It is the metropole and most populous constituent of the Kingdom of Denmark,, . also known as the Danish Realm, a constitutionally unitary state that includes the Autonomous a ...

Finland Finland, officially the Republic of Finland, is a Nordic country in Northern Europe. It borders Sweden to the northwest, Norway to the north, and Russia to the east, with the Gulf of Bothnia to the west and the Gulf of Finland to the south, ...

Iceland Iceland is a Nordic countries, Nordic island country between the Atlantic Ocean, North Atlantic and Arctic Oceans, on the Mid-Atlantic Ridge between North America and Europe. It is culturally and politically linked with Europe and is the regi ...

Norway Norway, officially the Kingdom of Norway, is a Nordic countries, Nordic country located on the Scandinavian Peninsula in Northern Europe. The remote Arctic island of Jan Mayen and the archipelago of Svalbard also form part of the Kingdom of ...

and

Sweden Sweden, formally the Kingdom of Sweden, is a Nordic countries, Nordic country located on the Scandinavian Peninsula in Northern Europe. It borders Norway to the west and north, and Finland to the east. At , Sweden is the largest Nordic count ...

. It was established in 1989 and adheres to the

development assistance Development aid (or development cooperation) is a type of aid given by governments and other agencies to support the economic, environmental, social, and political development of developing countries. It is distinguished from humanitarian aid ...

policies of the

Nordic countries The Nordic countries (also known as the Nordics or ''Norden''; ) are a geographical and cultural region in Northern Europe, as well as the Arctic Ocean, Arctic and Atlantic Ocean, North Atlantic oceans. It includes the sovereign states of Denm ...

and has financed 190 development assistance credits valued at EUR 1 billion. The NDF provides grants to

climate change Present-day climate change includes both global warming—the ongoing increase in Global surface temperature, global average temperature—and its wider effects on Earth's climate system. Climate variability and change, Climate change in ...

investment Investment is traditionally defined as the "commitment of resources into something expected to gain value over time". If an investment involves money, then it can be defined as a "commitment of money to receive more money later". From a broade ...

s under its new mandate, established in 2009. NDF offices are located in

Helsinki Helsinki () is the Capital city, capital and most populous List of cities and towns in Finland, city in Finland. It is on the shore of the Gulf of Finland and is the seat of southern Finland's Uusimaa region. About people live in the municipali ...

, Finland. The objective of the Nordic Development Fund's (NDF) operations is to facilitate climate change investments in low-income countries. NDF

grants Grant or Grants may refer to: People * Grant (given name), including a list of people and fictional characters * Grant (surname), including a list of people and fictional characters ** Ulysses S. Grant (1822–1885), the 18th president of the U ...

are made in cooperation with bilateral and multilateral development institutions. NDF’s operations mirror the Nordic countries’ priorities in the areas of climate change and

poverty reduction Poverty reduction, poverty relief, or poverty alleviation is a set of measures, both economic and humanitarian, that are intended to permanently lift people out of poverty. Measures, like those promoted by Henry George in his economics classi ...

. The operations are financed from the

development cooperation Development aid (or development cooperation) is a type of aid given by governments and other agencies to support the economic, environmental, social, and political development of developing countries. It is distinguished from humanitarian aid by ...

budgets of the five Nordic countries.

References

See also