The Nordic Micro-financing Initiative, whose organizers intend it to “provide the less fortunate in the world access to micro-financing” was recently launched in Oslo, Norway. Funded by the Danish government’s Investment Fund for Developing Countries, the Norwegian government’s Norfund and unspecified private investors in Norway, the initiative targets women in 14 nations in Africa and Asia, giving them “an opportunity to invest their way out of poverty, inequality and bleak future prospects.”
Kristian Jensen, the Minister for Foreign Affairs of Denmark, said, “If we want to fight poverty effectively, we must give the world’s poor access to financing. We will work closely with the private sector, which is imperative when it comes to mobilizing private funds for development.”
In 2015, IFU invested DKK 906 million (USD 134 million) in 41 projects.
By Jason Wei, Research Associate
Sources and Additional Resources
About the IFU
The Investment Fund for Developing Countries, which is owned by the Danish government, provides loans and advisory services to companies in Africa, Asia, Europe and Latin America. In 2015, IFU invested DKK 906 million (USD 134 million) in 41 projects.
[1] Nordic millions to help world’s poor micro-finance a better future, http://cphpost.dk/news/nordic-millions-to-help-worlds-poor-micro-finance-a-better-future.html
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