Annual Financial Report 2025
Photo: Ingeborg Korme
We have published our Annual Financial Report for 2025, marking a defining year for NDF as we concluded Strategy 2025 and launched Strategy 2030.
As we concluded the implementation of Strategy 2025 and embarked on the next chapter under Strategy 2030, NDF stood at a point of both reflection and renewal. This transition comes at a time when climate and development challenges are intensifying, demanding sharper focus, greater collaboration, and bold, forward-looking action. NDF maintained a strong focus on delivery, partnership, and impact, while preparing for the next phase of its strategic journey.
“Our achievements in implementing Strategy 2025 have been both tangible and transformative,” says Satu Santala, Managing Director of NDF. “As we move forward, our ambition is to lead at the frontier of climate and development finance, mobilising Nordic agility and innovation to unlock transformative solutions for the world’s most pressing climate and development challenges.”
In 2025, NDF approved projects totalling EUR 68.2 million. These investments focus on catalytic, early-stage financing that address urgent global challenges and support scalable solutions. Projects cover both climate adaptation and mitigation, with a continued priority on Sub-Saharan Africa.