News & Stories

The Annual Report for 2020 is now published


Year 2020 shows NDF is well-positioned to further advance ambitions by taking an active role in coordinating the sustainable green recovery, delivering Nordic values and providing much-needed finance to fight climate change in developing countries

In 2020, NDF continued to build its portfolio of high-impact climate change projects. Five new projects were approved during 2020, which raised the total accumulated climate project portfolio to EUR 427.95 million with 122 on-going or completed projects in Africa, Asia, and Latin America.

The year 2020 was a year of progress for NDF’s future strategic direction and financial resources. Following a positive evaluation of NDF in 2019, a strategy process was initiated in late 2019 and continued throughout 2020. As a result of this process, Strategy 2025 was approved by the Board of Directors and launched in May 2020. This strategy entails increased focus on adaptation financing and accelerating progress in gender equality. More financing will be targeted towards Africa, and special efforts will be made to further engage in the least developed countries and countries in fragile situations.

Following the launch of Strategy 2025 and national preparations in the five Nordic member countries, in October 2020, the Nordic Council of Ministers approved a EUR 350 million capital increase for NDF to be paid in over a period of ten years. The capital increase is designed to deliver Nordic values and provide much-needed finance to fight climate change in developing countries.

Institutional development was active during 2020. Most notably, NDF developed and adopted a new and progressive Gender Equality Policy. This policy puts NDF at the forefront of development financiers and calls for a gender analysis and full gender mainstreaming in all activities it finances.

To read more about the projects approved in 2020, overall statistics and the financial statements, please open the publication here.