NDF Annual Financial Report 2021

Based on the launch of Strategy 2025 and the capital increase concluded in 2020 as well as the continuous development of NDF’s institution, the year 2021 was characterised by an increased flow of new financing activities fully aligned with NDF’s Strategy.

The on-going COVID-19 pandemic continued to impact NDF’s activities in various ways. Despite the nearly total restriction on travel, NDF was able to develop its partnerships, engage in outreach through virtual means as well as originate and develop new financing commitments, and monitor its portfolio. At portfolio level, the COVID-19 impact showed mostly in the form of delays compared to the original implementation schedules in some projects. The new financing commitments made during 2021 in the amount EUR 63.5 million exceeded the projected EUR 55 million.

NDF also continued the work on strengthening its organisational structure, developing the institutional governance and key administrative processes. This work creates a basis for the financial, structural and human capital of NDF’s operations going forward. Most of the work takes place in the form of institutional projects, some of which are commitments under the capital increase.

Read the report here.