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Nordic Development Fund (NDF): Multilateral Development Finance Institution

27-APR-2016 15:06

    The Nordic Development Fund (NDF) is a multilateral development finance institution established in 1989 by Denmark, Finland, Iceland, Norway and Sweden.

    Jagranjosh

    The objective of the Nordic Development Fund's (NDF) operations is to facilitate climate change investments in low-income countries. NDF grants 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. The operations are financed from the development cooperation budgets of the five Nordic countries.

    Organisational Structure of NDF

    • Fund’s Board of Directors makes all grant decisions.
    • Control Committee oversees that the operations are conducted in accordance with the Statutes.
    • NDF’s Managing Director is responsible for the conduct of the day-to-day operations.

    NDF’s headquarters are in Helsinki, Finland, in the same building complex as the Nordic Investment Bank (NIB), the Nordic Environment Finance Corporation (NEFCO) and the Nordic Project Fund (Nopef). NIB provides support to NDF regarding office premises, staff administration, IT services, accounting and liquidity management.

    Jagranjosh

    DISCLAIMER: JPL and its affiliates shall have no liability for any views, thoughts and comments expressed on this article.

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