NORDIC DEVELOPMENT FUND (NDF)
Fabianinkatu 34 Postal Add: P.O. Box 185 00171 Helsinki Telephone: (9)180-0451 Finland Facsimile: (9)622-1491 E-Mail: email@example.com Internet: www.ndf.fi President: ... Jens Lund SØRENSEN Board of Directors Chairman: ... Ms. Ingrid GLAD (Norway) Deputy Chairman: ... Ms. Susanne JACOBSSON (Sweden) Members: ... Henrik WOHLK (Denmark) ... Ingvar B. FRIDLEIFSSON (Iceland) ... Pasi HELLMAN (Finland)
ESTABLISHMENT AND FUNCTIONS
The Nordic Development Fund (NDF) is a multilateral Nordic development aid organization with offices in Helsinki. It commenced operations in February 1989. The NDF is one element in the development aid cooperation between the five Nordic countries - Denmark, Finland, Iceland, Norway, and Sweden. NDF's capital amounts to SDR 515 million and EUR 330 million.
NDF credits are offered to the least developed low and lower middle income countries (LLDC, LIC, and LMIC countries) according to the classification of the OECD's Development Assistance Committee (DAC). Priority is given to low income (LLDC and LIC) countries in Africa, Asia, and Latin America.
NDF credits are offered only through co-financing with a leading partner, such as the multilateral organizations, the World Bank Group, the African Development Bank (AfDB), the Asian Development Bank (AsDB), the Inter-American Development Bank (IaDB), and the Nordic Investment Bank (NIB).
NDF credits are offered on concessional terms, 40-year credits, including a 10-year grace period. The credits are interest free, but carry a service charge of 0.75 percent per annum and a commitment charge of 0.5 percent per annum.
NDF can also provide financial support for private sector activities in developing countries without government guarantee.
5 member countries: Denmark, Finland, Iceland, Norway, Sweden
All the powers of the NDF are vested in the Board of Directors, which is composed of one member and one deputy from each country appointed for maximum terms of five years. The Board may delegate powers to the President, who is appointed for a term of five years.
Annual Report (English and Swedish); Brochures (English)
UPDATED: April 28, 2003