IP/C/R/TTI/NOR/3  
4 de octubre  de 2022 
(22-7499) Página: 1/34 
Consejo de los Aspectos de los Derechos de Propiedad 
Intelectual relacionados con el Comercio  Original:  inglés  
 
  
INFORME SOBRE LA APLICACIÓN DEL ARTÍCULO 66.2  
DEL ACUERDO SOBRE LOS ADPIC  
NORUEGA  
La siguiente comunicación de la delegación de Noruega, de fecha 12 de septiembre de 2022, se 
distribuye de conformidad con el párrafo 1 de la Decisión relativa a la aplicación del artículo 66.2 del 
Acuerdo sobre los ADPIC (documento IP/C/28 ). 
 
_______________  
 
 
1  INTRODUCCIÓN  
1.  El artículo 66.2 del A cuerdo sobre los ADPIC estipula que los países desarrollados Miembros 
ofrecerán a las empresas e instituciones de su territorio incentivos destinados a fomentar y propiciar 
la transferencia de tecnología a los países menos adelantados (PMA) Miembros, con e l fin de que 
estos puedan establecer una base tecnológica sólida y viable. En la presente nota se proporciona 
información actualizada sobre los mecanismos pertinentes que ofrecen la Agencia Noruega de 
Cooperación para el Desarrollo (Norad) y el Fondo Norue go de Inversión en favor de los Países en 
Desarrollo (Norfund).  
2.  Los PMA pueden ser beneficiarios de los planes de incentivos de la Norad y el Norfund, al igual 
que los demás países en desarrollo.  
2  AGENCIA NORUEGA DE COOPERACIÓN PARA EL DESARROLLO (NORAD)  
3.  La Norad es una dirección general que depende del Ministerio de Relaciones Exteriores de 
Noruega y se encarga de garantizar la calidad de la cooperación para el desarrollo del país. También 
administra varios programas de donaciones para fines específicos, po r ejemplo, el desarrollo del 
sector privado. Ofrece incentivos para la transferencia de tecnología a los PMA a través de sus 
mecanismos de apoyo a la preinversión, asociaciones estratégicas, el programa Petróleo para el 
Desarrollo y el programa Pesca para el Desarrollo. Muchos otros programas que cuentan con el 
respaldo de la Norad integran asimismo elementos de transferencia de tecnología.  
4.  Para beneficiarse de los mecanismos de apoyo a la preinversión, que no están vinculados, es 
necesario presentar previa mente una solicitud. Los principales usuarios son empresas noruegas, 
pero también se aceptan solicitudes de empresas extranjeras. Los planes están abiertos a todo tipo 
de transferencia de tecnología, aunque se da prioridad a las inversiones en las energías  renovables, 
la agricultura (especialmente la agricultura resiliente al clima en África), las tecnologías de la 
información y las comunicaciones (TIC) y los sectores marino y marítimo. La asistencia técnica es la 
principal forma de transferencia de tecnolo gía, pero los planes también incluyen inversiones en 
infraestructura básica. La financiación disponible se utiliza en su totalidad cada año.  
5.  El propósito de los mecanismos de apoyo a la preinversión de la Norad es animar a las empresas 
a invertir en los países en desarrollo y PMA. Los programas de ayuda tienen por objeto preparar el 
terreno para que se puedan realizar inversiones a largo plazo que sean viables desde un punto de 
vista comercial, prestando apoyo financiero para la adopción de medidas destinadas a reducir el 
riesgo y/o de medidas que favorezcan la sostenibilidad y viabilidad de los proyectos de inversión 
privada. Esos mecanismos fo mentan la cooperación, incluida la relacionada con la transferencia de IP/C/R/TTI/NOR/3  
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  tecnología, apoyando la realización de estudios de viabilidad con miras a crear empresas conjuntas 
o filiales en el extranjero, la formación destinada a fortalecer el personal y la gest ión locales de las 
empresas conjuntas o de las sociedades que pertenecen total o parcialmente a una o varias 
empresas extranjeras y las inversiones en infraestructura ambiental básica y en infraestructura 
básica (carreteras, agua/alcantarillado, electricid ad y telecomunicaciones). El valor añadido de la 
ayuda prestada por la Norad a empresas concretas radica en haber contribuido a orientar las 
inversiones hacia países y regiones en los que, de otro modo, las empresas no habrían invertido 
necesariamente, deb ido, entre otras cosas, a la falta de contactos que faciliten la realización de 
inversiones y la asunción de riesgos. El objetivo del mecanismo es también facilitar y promover la 
creación de empleo, en particular para las mujeres y los jóvenes. Por lo gene ral, los proyectos objeto 
de apoyo se llevan a término en un plazo de entre uno y tres años. En el cuadro 1 figuran los 
desembolsos a los PMA realizados en  2021 en el marco de este mecanismo. Los mecanismos de 
apoyo a la preinversión de la Norad incluyen u na ventanilla especial para las inversiones en energías 
renovables, que también figuran en el cuadro  1. 
Cuadro 1  Desembolsos realizados en el marco del apoyo a la preinversión para que las 
empresas inviertan en países en desarrollo y PMA (en millones de NOK)  
País beneficiario  Sector del CAD 
(código+designación)  Subsector del CAD 
(código+designación)  2021  
Etiopía  321 - Industria  62 – Industrias forestales  1,5 
Etiopía, total    1,5 
Malawi  232 - Generación de energía, 
fuentes renovables  20 - Centrales hidroeléctricas  2,5 
Malawi, total    2,5 
Myanmar  232 - Generación de energía, 
fuentes renovables  20 - Centrales hidroeléctricas  1,8 
Myanmar, total    1,8 
Rwanda  232 - Generación de energía, 
fuentes renovables  20 - Centrales hidroeléctricas  19,6 
Rwanda, total      19,6 
Tanzanía  232 - Generación de energía, 
fuentes renovables  40 - Energía eólica  1,3 
 312 - Silvicultura  20 – Desarrollo forestal  0,7 
Tanzanía, total    2,0 
Uganda  311 - Agricultura  93 – Servicios financieros agrícolas  1,0 
Uganda, total    1,0 
Zambia  232 - Generación de energía, 
fuentes renovables  20 - Centrales hidroeléctricas  1,4 
  30 – Energía solar para redes 
centralizadas  0,4 
Zambia, total    1,9 
Total    30,3 
6.  El apoyo de la Norad en la esfera de las energías renovables tiene el propósito de mejorar el 
acceso a estas energías en los países en desarrollo, contribuir al desarrollo del sector privado y crear 
empleo. Se centra en áreas en las que Noruega puede ofrecer conocimientos especializados y 
moviliza capital privado y competencias en esferas como la energía hidroeléctrica, la energía solar, 
la energía eólica y la bioenergía.  
7.  La Norad ha introducido  además un instrumento denominado "asociaciones estratégicas". 
El programa de donaciones tiene por objeto fomentar un entorno empresarial que promueva el 
desarrollo del sector privado en los países en desarrollo, entre otros medios, mediante asociaciones 
estratégicas con empresas privadas y organizaciones sin fines de lucro. Aunque se concede especial 
prioridad a las empresas privadas y organizaciones sin fines de lucro cuya finalidad es subsanar 
conjuntamente deficiencias específicas de las cadenas de valo r en los países en desarrollo, la 
formación profesional también constituye un ámbito de interés. Para beneficiarse del mecanismo, 
que no está vinculado, es necesario presentar previamente una solicitud. En la última ronda de 
solicitudes se concedió apoyo a  proyectos en Etiopía, Tanzanía y Uganda. Los sectores considerados 
prioritarios para la transferencia de tecnología son la agricultura y la elaboración de productos 
agrícolas, las TIC y los recursos pesqueros y marinos. Los proyectos objeto de apoyo son p lurianuales 
y, por lo general, se desarrollan en un plazo de entre tres y cinco años. En el cuadro 2 figuran los 
desembolsos a los PMA realizados en 2021 en el marco de este mecanismo.  IP/C/R/TTI/NOR/3  
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  Cuadro 2  Desembolsos realizados en el marco del programa de donaciones para las 
asociaciones estratégicas (en millones de NOK)  
País beneficiario  Sector del CAD 
(código+designación)  Subsector del CAD 
(código+designación)  2021  
Etiopía  311 - Agricultura  20 - Desarrollo agrícola  7,3 
  61 - Producción de cultivos 
alimentarios  0,6 
 321 - Industria  30 – Desarrollo de las pymes  12,2 
Etiopía, total    20,2 
Tanzanía  311 - Agricultura  20 - Desarrollo agrícola  4,8 
Tanzanía, total    4,8 
Uganda  220 - Comunicaciones  40 – Tecnología de la información 
y la comunicación (TIC)  5,4 
 311 - Agricultura  20 - Desarrollo agrícola  7,7 
  61 - Producción de cultivos 
alimentarios  2,2 
Uganda, total    15,3 
Total    40,3 
8.  El programa noruego Petróleo para el Desarrollo tiene por objeto ayudar a los países en desarrollo 
y los PMA que lo soliciten a gestionar los recursos petroleros de tal forma que generen crecimiento 
económico y promuevan el bienestar del conjunto de la población de manera ambientalmente 
sostenible. Este programa participa en otras iniciativas , ya sea directamente o a través de otros 
donantes y socios participantes en la aplicación. El Gobierno de Noruega ha decidido poner fin al 
programa Petróleo para el Desarrollo de manera gradual hasta 2024, con miras a dar prioridad a 
proyectos de desarrol lo más ecológicos.  
9.  Una de las finalidades de las actividades de cooperación para el desarrollo de Noruega en el 
sector de la pesca y la acuicultura es introducir la tecnología y los sistemas adecuados y lograr que 
se acaben utilizando de la manera prevista . Noruega lleva más de 40 años prestando apoyo al 
Programa Nansen, uno de cuyos elementos centrales es el buque de investigación 
"Dr. Fridtjof  Nansen". El objetivo del programa es recoger información sobre los recursos y el medio 
ambiente marinos y ayudar a los países en desarrollo y los PMA a utilizar esos datos para que 
gestionen mejor sus recursos marinos.  
10.  Desde 1990, el programa se ha ejecutado principalmente en los Estados costeros de África, 
entre ellos, varios PMA como Angola, Benin, Gambia, Guinea, Guinea -Bissau, Liberia, Madagascar, 
Mauritania, Mozambique, la República Democrática del Congo, el Senegal, Sierra Leona y Tanzanía. 
En su marco también se han llevado a cabo encuestas en el Golfo de Bengala y en PMA como 
Myanmar y Bangladesh. Los científi cos y los gestores participan en la planificación y ejecución de 
las encuestas y en los trabajos posteriores. Los participantes adquieren conocimientos acerca de los 
instrumentos y técnicas de medición del volumen y la composición de las poblaciones de pec es, así 
como de identificación de otros organismos marinos. Los parámetros físicos del medio marino se 
miden constantemente. Los resultados se analizan y utilizan como base para la adopción de las 
decisiones de gestión. La elaboración de series cronológica s permite obtener información acerca de 
los cambios y las tendencias en el medio y los recursos marinos. Los datos recogidos son propiedad 
del país de que se trate. La Organización de las Naciones Unidas para la Alimentación y la Agricultura 
(FAO) gestiona  el programa. El Instituto de Investigación Marina de Noruega aporta los 
conocimientos científicos especializados.  
3  FONDO NORUEGO DE INVERSIÓN EN FAVOR DE LOS PAÍSES EN DESARROLLO 
(NORFUND)  
3.1 Información acerca del Norfund  
11.  La finalidad del Norfund es cont ribuir al establecimiento de empresas comerciales sostenibles 
en los países en desarrollo aportando capital de riesgo y conocimientos especializados. El Norfund 
contribuye al desarrollo económico y a la creación de empleos sostenibles en países pobres medi ante 
el fomento de empresas rentables (sobre todo en el ámbito de las energías limpias, las finanzas y la 
agroindustria) y la transferencia de conocimientos y tecnología.  IP/C/R/TTI/NOR/3  
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  12.  La región prioritaria para las inversiones del Norfund es África Subsahariana, aunque  también 
se invierte en determinados países de Asia Sudoriental y Centroamérica. El Norfund tiene presencia 
local y cuenta con oficinas y personal en todas las grandes regiones geográficas. Su propósito es 
que, como mínimo, el 33  por ciento de su cartera d e inversiones se destine a PMA y el 50  por ciento 
a África Subsahariana, ya que padecen una grave escasez de capital y conocimientos especializados. 
La proporción de los nuevos fondos asignados en 2021 a los PMA fue del 23,2  por ciento, a saber, 
un total d e NOK  1.230 millones. Los fondos asignados a PMA ascendieron al 40  por ciento de la 
cartera total, muy por encima del objetivo fijado, del 33  por ciento.  
13.  El Norfund concentra sus inversiones en las energías limpias, la agroindustria y la industria 
manufact urera, las infraestructuras verdes y las instituciones financieras. Se trata de sectores que 
ofrecen claras ventajas para el desarrollo y en los que se dan las condiciones necesarias para que el 
Norfund aporte conocimientos especializados de una calidad ac orde con las exigencias 
internacionales. La asistencia del Norfund no está vinculada y no se requiere la cooperación con 
empresas noruegas.  
14.  El Norfund aporta capital en forma de acciones y de títulos de deuda. Se da preferencia a las 
inversiones de capital , porque en la mayoría de los países en desarrollo las acciones son el tipo de 
capital necesario para las empresas que más escasea. La propiedad directa le permite ser un inversor 
con influencia y participar directamente en la gestión de las sociedades. Al  tratarse de un inversor 
de capital, tiene una perspectiva a largo plazo de sus inversiones. Las transferencias de tecnología 
y de competencias forman parte integrante de las actividades de inversión del Norfund, tanto en lo 
que se refiere a la gestión ope rativa e industrial, como a las cuestiones relacionadas con la salud, la 
seguridad y el medio ambiente. El desarrollo de estos elementos es crucial para la misión de la 
organización.  
15.  El Norfund participa como socio activo en las empresas y los fondos en lo s que invierte y a 
menudo solicita ocupar puestos en los consejos de administración o en otros órganos decisorios, lo 
que le permite seguir de cerca las operaciones y, a largo plazo, influir en la adopción de las prácticas 
y normas de actuación. Con una pe rspectiva de participación de 4 a 10 años, el Norfund trabaja para 
crear una cultura empresarial orientada a la mejora continua de la gestión de las empresas y de las 
normas ambientales y sociales. A veces se utilizan planes de acción para definir el curso  a largo 
plazo que deben seguir las empresas para dejar de actuar según normas locales y ajustarse a normas 
internacionales.  
16.  El Norfund también tiene un mecanismo de desarrollo y apoyo a las empresas, financiado por 
el Ministerio de Relaciones Exteriores d e Noruega (MFA), cuyo objetivo es respaldar las inversiones 
sostenibles. Dicho mecanismo fue establecido en 2000, porque el MFA, la Norad y el Norfund 
reconocieron de común acuerdo la necesidad de asistencia técnica y profesional (AT) para invertir 
en el s ector privado de los países en desarrollo. Las donaciones contribuyen a acrecentar el efecto 
en términos de desarrollo de las actividades de inversión del Norfund. En 2021, el Norfund 
desembolsó NOK  8,8 millones a 45 proyectos activos. Doce de esos proyect os se aplicaron 
exclusivamente en PMA, con un compromiso de NOK  9,8 millones. Cinco proyectos de la cartera de 
inversiones tuvieron un alcance regional pero incluyeron PMA como parte de los países beneficiarios. 
En los cuadros E y F así como en las páginas  26 y 27 del anexo figura una reseña de la AT del 
Norfund a través de los desembolsos a los PMA realizados en 2021. La digitalización es una de las 
prioridades de Business Support y, como resultado de la pandemia, en 2021 se ha seguido 
observando un increm ento de este tipo de proyectos. La creación de capacidad en materia 
medioambiental, social y de gobernanza también ha sido una de las principales prioridades del 
mecanismo durante 2021 y una gran demanda por parte de las empresas de PMA en las que se 
había  invertido. A través de este mecanismo, el Norfund ha cofinanciado la prestación de 
asesoramiento externo gracias al cual se ha ayudado a las empresas a desarrollar su propia 
capacidad interna al respecto.  
3.2 Inversiones en la agroindustria y la industria  manufacturera  
17.  En este sector, el Norfund desembolsó en 2021 en torno a NOK  185 millones destinados al 
funcionamiento de empresas de PMA en las que había realizado inversiones directas. En el cuadro A 
y en las páginas 14 a 16 del anexo figura una reseña de las inversiones del Norfund en la industria 
manufacturera y la agroindustria a través de los desembolsos a los PMA realizados en 2021.  IP/C/R/TTI/NOR/3  
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  3.3 Inversiones en energías limpias  
18.  En el ámbito de las energías limpias, el Norfund está realizando varias inv ersiones que conllevan 
la transferencia de la tecnología más moderna a los países en desarrollo. En este sector se 
desembolsaron en 2021 NOK  2.450 millones destinados a empresas de PMA en las que se habían 
realizado inversiones. En el cuadro B y en las pág inas 17 a 20 del anexo figura una lista de 
inversiones en el sector de las energías limpias que entrañaron desembolsos a PMA en 2021.  
3.4 Inversiones en instituciones financieras  
19.  La inclusión financiera es crucial para respaldar el crecimiento y crear empl eo. Al invertir en 
bancos, proveedores de microfinanciación y otras instituciones financieras, el Norfund prioriza las 
entidades financieras de propiedad nacional con buen potencial de crecimiento y capaces de generar 
y prestar servicios valiosos. En 2021,  se desembolsaron casi NOK  390 millones a PMA en concepto 
de inversiones directas en el sector financiero. En el cuadro C y en las páginas 21 y 22 del anexo 
figura una reseña de las inversiones del Norfund en el sector financiero a través de los desembolso s 
a los PMA realizados en  2021.  
20.  Además de realizar inversiones directas, el Norfund invierte en fondos destinados a más 
empresas y otras esferas de actividad, así como en fondos de capital privado, fondos dirigidos a 
pequeñas y medianas empresas (pymes) y fondos de riesgo/impacto. Al invertir a través de fondos 
locales y regionales, el Norfund puede llegar a empresas que a menudo tienen problemas para 
obtener financiación de los bancos formales. En 2021, el Norfund desembolsó casi NOK  223 millones  
en concepto de fondos en PMA. En el cuadro D y en las páginas 23 a 26 del anexo figura una reseña 
de las inversiones del Norfund en fondos a través de desembolsos a los PMA realizados en 2021.  
   
  IP/C/R/TTI/NOR/3  
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Cuadro A - Empresas escalables  
Título  
del proyecto/programa/incentivo  Institución de financiación del desarrollo  
Objetivo/finalidad de la política  Contribuir al desarrollo de empresas rentables  
Organismo de financiación  Norfund  
Actores que pueden beneficiarse de la 
ayuda  Empresas del sector privado  
Ámbito de la transferencia de tecnología  Empresas escalables (agroindustria e industria manufacturera)  
Tipo de transferencia de tecnología  Capital de riesgo y conocimientos especializados  
Proyectos en curso en PMA 
(desembolsos/compromisos en NOK)  País Nombre  
del proyecto  Subsector  Importe 
desembolsado  
en 2021 (NOK)  Importe total 
comprometido 
(NOK)  Tipo  
de capital  Año del 
compromiso 
inicial  
Tanzanía  ASILIA 
(African Spirit 
Group Limited)  Turismo  13.269.843  132.820.720  Préstamos 
participaciones  
de capital  2013 
Tanzanía, Mozambique, 
Zambia, Senegal, Níger, 
República Democrática 
del Congo, Haití  European 
Financing 
Partners SA  Fondos de inversión  20.591.396  525.930.551  Préstamos 
participaciones  
de capital  2006 
Malawi  FES Agricultura, 
silvicultura y pesca  8.731.401  117.410.321  Préstamos 
participaciones  
de capital  2020 
Uganda, Tanzanía, 
Mozambique  Green 
Resources 
USD Silvicultura y 
producción 
maderera  302  560.766.539  Capital  2009 
Tanzanía  Kagera Sugar 
Limited  Producción agrícola 
y pecuaria, caza y 
actividades de 
servicios conexos  50.102.140  132.159.756  Préstamos  2020 
Uganda, Zambia  Lake Harvest 
Group  Pesca y acuicultura  20.781.065  157.821.204  Préstamos 
participaciones  
de capital  2013 
Malawi  Lilongwe Dairy 
(2001) Limited  Producción agrícola 
y pecuaria, caza y 
actividades de 
servicios conexos  49.456.785  86.430.120  Préstamos  2020 
Mozambique  Neofresh  Producción agrícola 
y pecuaria, caza y 
actividades de 
servicios conexos  6.318.369  78.909.320  Préstamos 
participaciones  
de capital  2017 
Zambia, Malawi  Phatisa Food 
Fund 2  Agricultura, 
silvicultura y pesca  16.057.469  172.786.938  Fondos  2021 
    
  IP/C/R/TTI/NOR/3  
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Cuadro B - Energía limpia  
Título  
del proyecto/programa/incentivo  Institución de financiación del desarrollo  
Objetivo/finalidad de la política  Contribuir al desarrollo de empresas rentables  
Organismo de financiación  Norfund  
Actores que pueden beneficiarse de la 
ayuda  Empresas del sector privado  
Ámbito de la transferencia de 
tecnología  Energía limpia  
Tipo de transferencia de tecnología  Capital de riesgo y conocimientos especializados  
Proyectos en curso en PMA 
(desembolsos/compromisos en NOK)  País Nombre  
del proyecto  Subsector  Importe 
desembolsado en 
2021 (NOK)  Importe total 
comprometido  
(NOK)  Tipo  
de capital  Año del 
compromiso 
inicial  
Zambia  Agua Imara  Energía  505.607.183  996.835.586  Préstamos 
participaciones  
de capital  2021 
Níger, Burkina Faso, Chad AktivCo  Energía solar  43.292.427  86.295.341  Préstamos  2021 
Madagascar, Senegal, Malí  Baobab+  Energía solar  50.569.048  99.338.250  Capital  2021 
Uganda  Eco-Nor Energía 
hidroeléctrica  8.101.752  8.101.752  Capital  2019 
Uganda, Burundi  Evolution Fund II 
(Through KNI)  Energía  462.082  132.028.866  Fondos  2019 
Uganda, Tanzanía, 
Mozambique, Rwanda, 
Zambia, Madagascar, 
Senegal, Burkina Faso, 
Sierra  Leona, Malawi, 
Lesotho, República 
Democrática del Congo, 
Burundi, Guinea, Malí, Benin, 
Gambia, Guinea -Bissau, 
Mauritania  FEI - Facility for 
Energy Inclusion  Energía  4.916.054  176.515.019  Fondos  2019 
Tanzanía  Globeleq  Energía  3.702.258  2.086.652.644  Préstamos 
participaciones de 
capital  2014 
Uganda, Tanzanía, Myanmar  Greenlight Planet  Energía solar  18.054.203  128.528.932  Préstamos  2019 
Bangladesh, Uganda, 
Camboya, Etiopía, 
Burkina  Faso, Chad  ICCF Energía  6.843.470  328.287.244  Préstamos  2010 
   
  IP/C/R/TTI/NOR/3  
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Título del 
proyecto/programa/incentivo  Institución de financiación del desarrollo  
Proyectos en curso en PMA 
(desembolsos/compromisos  
en NOK)  País Nombre  
del proyecto  Subsector  Importe 
desembolsado en 
2021 (NOK)  Importe total 
comprometido  
(NOK)  Tipo  
de capital  Año del 
compromiso 
inicial  
Uganda, Rwanda, Madagascar, 
Malawi, Congo, Burundi  Klinchenberg  Energía 
hidroeléctrica  1.566.198.188  1.566.204.138  Préstamos 
participaciones  
de capital  2021 
Mozambique, Senegal  Metier Sustainable 
Capital Fund II  Energía  7.039.266  175.280.400  Fondos  2019 
Uganda  M-Kopa Energía solar  3.676.705  124.142.906  Préstamos  2017 
República Democrática 
Popular  Lao Nam Sim  Energía 
hidroeléctrica  498.565  32.588.124  Préstamos  2011 
Zambia  New Africa Power  Energía 
hidroeléctrica  67.406  16.014.962  Capital  2017 
Uganda, Tanzanía, Senegal  responsibility ACPF  Energía  3.542.291  105.357.598  Fondos  2019 
Bangladesh, Camboya  Schneider Electric 
Energy Access Asia  Energía  5.247.156  63.214.572  Fondos  2019 
Uganda, Rwanda, Zambia, 
Malawi  Serengeti Energy  Energía 
hidroeléctrica  226.149.749  423.627.905  Préstamos 
participaciones  
de capital  2017 
Bangladesh, Camboya, 
República, Democrática 
Popular Lao, Myanmar  SUSI Asia Energy 
Transition Fund 
(Through KNI)  Energía  447.170  67.396.423  Fondos  2021 
 
    
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Cuadro C - Instituciones financieras  
Título del 
proyecto/programa/incentivo  Institución de financiación del desarrollo  
Objetivo/finalidad de la política  Contribuir al desarrollo de empresas rentables  
Organismo de financiación  Norfund  
Actores que pueden beneficiarse de la 
ayuda  Empresas del sector privado  
Ámbito de la transferencia de 
tecnología  Instituciones financieras  
Tipo de transferencia de tecnología  Capital de riesgo y conocimientos especializados  
Proyectos en curso en PMA 
(desembolsos/compromisos en NOK)  País Nombre  
del proyecto  Subsector  Importe 
desembolsado 
en 2021 (NOK)  Importe total 
comprometido 
(NOK)  Tipo de capital  Año del 
compromiso 
inicial  
Tanzanía, Angola, 
Mozambique, Rwanda, 
Zambia, Madagascar, 
Malawi  AfricInvest 
Financial Inclusion 
Vehicle (FIVE)  Banca  21.406.155  276.712.404  Capital  2018 
Uganda, Tanzanía, 
Mozambique, Rwanda, 
Zambia, Senegal, Togo, 
Burkina Faso, Malí, Benin  Arise B.V.  Banca  122.734.444  2.813.875.508  Capital  2016 
Uganda, Tanzanía, 
Mozambique, Rwanda, 
Zambia, Sudán del Sur, 
Senegal, Togo, Níger, 
Burkina Faso,  
Sierra Leona, Malawi, 
Liberia, República 
Democrática del Congo, 
Burundi, Guinea, Chad, 
Malí, Benin, Gambia, 
Guinea -Bissau, República 
Centroafricana,  
Santo To mé y Príncipe  Ecobank 
Transnational 
Incorporated (ETI)  Banca  37.452.944  132.291.000  Préstamos  2021 
Camboya  Hattha Kaksekar 
Ltd (HKL)  Microfinanciación  179.670.000  198.436.500  Préstamos  2007 
Uganda, Tanzanía, 
Mozambique, Rwanda, 
Zambia, Senegal, Togo, 
Burkina Faso, Malí, Benin  NorFinance AS  Banca  28.400.676  495.097.136  Capital  2013 
 
    
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Cuadro D - Fondos  
Título del 
proyecto/programa/incentivo  Institución de financiación del desarrollo  
Objetivo/finalidad de la política  Contribuir al desarrollo de empresas rentables  
Organismo de financiación  Norfund  
Actores que pueden beneficiarse de 
la ayuda  Empresas del sector privado  
Ámbito de la transferencia de 
tecnología  Fondos  
Tipo de transferencia de tecnología  Capital de riesgo y conocimientos especializados  
Proyectos en curso en PMA 
(desembolsos/compromisos en NOK)  País Nombre  
del proyecto  Subsector  Importe 
desembolsado 
en 2021 (NOK)  Importe total 
comprometido 
(NOK)  Tipo  
de capital  Año del 
compromiso 
inicial  
Bangladesh  ACI Motors Ltd  Fabricación de vehículos 
automotores, remolques y 
semirremolques  36.707.416  40.979.410  Capital  2021 
Uganda, Zambia, Togo  Africa Health Fund 
(Aureos)  Fondos de inversión  363.837  44.521.350  Fondos  2011 
Uganda, Angola, 
República Democrática 
del Congo  African Rivers  
Fund III  Fondos de inversión  74.605.789  132.158.928  Fondos  2021 
Tanzanía, Zambia. Etiopía  Agri-Vie II  Fondos de inversión  5.504.359  130.424.468  Fondos  2017 
Uganda, Etiopía  Ascent Rift Valley 
Fund II  Fondos de inversión  2.511.018  87.869.220  Fondos  2020 
Uganda, Etiopía  Ascent Rift Valley 
Fund Ltd  Fondos de inversión  4.649.431  84.382.017  Fondos  2013 
Camboya, República 
Democrática Popular Lao, 
Myanmar  Cambodia - Lao 
People's Democratic 
Republic - Myanmar 
Development  
Fund II  Fondos de inversión  6.388.033  93.341.881  Fondos  2015 
Camboya  Cambodia - Lao 
People's Democratic 
Republic 
Development Fund  Fondos de inversión  347.562  14.413.903  Fondos  2009 
Etiopía  Cepheus Growth 
Capital Fund  Fondos de inversión  11.681.086  135.342.522  Fondos  2018 
Uganda, Tanzanía, 
Rwanda  Fanisi Capital  
Fund II  Fondos de inversión  4.741.794  108.981.117  Fondos  2017 
   
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Título del 
proyecto/programa/incentivo  Institución de financiación del desarrollo  
Proyectos en curso en PMA 
(desembolsos/compromisos en NOK)  País Nombre  
del proyecto  Subsector  Importe 
desembolsado 
en 2021 (NOK)  Importe total 
comprometido 
(NOK)  Tipo  
de capital  Año del 
compromiso 
inicial  
Bangladesh  Frontier Fund II  Fondos de inversión  425.176  29.400.665  Fondos  2016 
Myanmar  Myanmar 
Opportunities  
Fund II  Fondos de inversión  23.460.696  72.787.711  Fondos  2018 
Camboya , República 
Democrática Popular Lao, 
Myanmar  Navis CLMV  Fondos de inversión  28.989.206  216.821.160  Fondos  2020 
Etiopía, Senegal  Neoma Africa Fund  Fondos de inversión  183.325  71.936.021  Fondos  2008 
Somalia  Nordic Horn of Africa 
Opportunities Fund  Fondos de inversión  14.422.551  34.298.587  Fondos  2018 
Uganda  Novastar Ventures 
East Africa Fund  Fondos de inversión  497.654  83.096.109  Fondos  2013 
Sierra Leona, Liberia  Solon Capital 
Holdings  Fondos de inversión  2.133.450  35.030.000  Fondos  2020 
Zambia, Malawi  Spear Africa  
Holding II  Industria manufacturera  4.690.450  66.664.068  Fondos  2017 
Uganda  Vantage Mezzanine 
Fund IV - USD Fondos de inversión  118.149  211.687.789  Fondos  2021 
Uganda  Vantage Mezzanine 
Fund IV - ZAR Fondos de inversión  174.410  49.833.174  Fondos  2021 
    
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Cuadro E - Proyectos de AT  
Proyectos de AT en inversiones directas  
País Empresa  
en la que se ha invertido  Nombre del proyecto de AT  Ámbito  Importe comprometido (NOK)  
Etiopía  Marginpar Group  Maringpar Kaizen Implementation 
Ethiopia, Leadership and Team 
Development  Desarrollo de la capacidad  1.237.000  
Etiopía  Agri Vie  Agri Vie ESG and OHS Training 
2019 - 2020 Cuestiones medioambientales, 
sociales y de gobernanza/de 
responsabilidad social de las 
empresas, externas  102.000  
Lesotho  Neo1 PVnoe  Scatec Lesotho project 
development Rural Electrification 
Project  Desarrollo de proyectos  255.000  
Lesotho  Neo1 PVnoe  Scatec Lesotho Community Legal 
& ES Initiatives  Cuestiones medioambientales, 
sociales y de gobernanza/de 
responsabilidad social de las 
empresas, externas  474.000  
Malawi  Lilongwe Dairy (2001) Limited  Lilongwe Dairy ESG and Covid 
support  Cuestiones medioambientales, 
sociales y de gobernanza, internas  196.000  
Malaw i FES FES ESG Risk Management  Cuestiones medioambientales, 
sociales y de gobernanza/de 
responsabilidad social de las 
empresas, internas  1.266.000  
Mozambique  African Century Infrastructure 
Services Ltd.  ACIS emergency grant  Cuestiones medioambientales, 
sociales y de gobernanza/de 
responsabilidad social de las 
empresas, internas  289.000  
Mozambique  African Century Real Estates Ltd.  ACRE emergency grant  Cuestiones medioambientales, 
sociales y de gobernanza/de 
responsabilidad social de las  
empresas, internas  724.000  
Mozambique  Arise B.V.  Arise TA Facility  Desarrollo de la capacidad  2.172.000  
Myanmar  Advans MFI Myanmar Company 
Limited  Advans Myanmar Capacity 
Development  Desarrollo de la capacidad  1.422.000  
Myanmar  Yoma Bank Limited  Yoma Bank Business Integrity and 
Stakeholder Management Plan 
phase II  Cuestiones medioambientales, 
sociales y de gobernanza/de 
responsabilidad social de las 
empresas, internas  924.000  
Rwanda  Scatec  Scatec Covid -19 relief efforts  Cuestiones medioambientales, 
sociales y de gobernanza/de 
responsabilidad social de las 
empresas, externas  745.000  
    
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Cuadro F - Proyectos de AT  
Proyectos de AT con alcance regional y/o por medio de inversiones en fondos  
País Empresa  
en la que se ha invertido  Proyecto de AT  Ámbito  Importe comprometido (NOK)  
Alcance regional, incluidos Malawi 
y Etiopía  Global  Technoserve CASA Partnership for 
smallholder farmers  Desarrollo de la capacidad  1.755.000  
Alcance regional, incluidos Malawi, 
Etiopía, Zambia, Uganda, 
Mozambique  AgDevCo  AgDevCo TAF with a focus on 
smallholder farmers, climate and 
gender  Desarrollo de la capacidad  8.778.000  
Alcance regional, incluidos Etiopía 
y Uganda  Ascent Rift Valley Fund II  ARVF TAF 2021 - 2022 for 
capacity development  Desarrollo de la capacidad  1.577.000  
Alcance regional  Novastar  Novastar TA 2021 - 2022 for 
capacity development  Desarrollo de la capacidad  2.131.000  
Alcance regional, incluido Zambia  Global  Hibis Business Integrity 
Assessment 2020 - 2021 Cuestiones medioambientales, 
sociales y de gobernanza  internas  975.000  
_______________  
 
 
   
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ANNEX1 
Name of programme or project  Scalable Enterprises (Agribusiness and Manufacturing)  
Objective or purpose  Contribute to development of profitable enterprises. Within the agribusiness and manufacturing sector, 
Norfund disbursed around NOK 185 million in 2021 to our directs investments in investees ' operations in 
least developed countries.    
Entity making the incentive available  Norfund  
Eligible enterprises or institutions in developed 
country Member  Private Sector Enterprises  
Beneficiary Member(s)  Democratic Republic of the Congo; Haiti; Malawi; Mozambique; Niger; Senegal; Tanzania; Uganda; 
Zambia  
Beneficiary Observer(s)   
Beneficiary enterprises or institutions  ASILIA (African Spirit Group Limited) European Financing Partners SA FES Green Resources USD Kagera 
Sugar Limited Lake Harvest Group Lilongwe Dairy (2001) Limited Neofresh Phatisa Food Fund 2  
Nature of incentive measure  Risk capital  and exper tise Type of capital per project: ASILIA (African Spirit Group Limited: Loans Equity   
European Financing Partners SA: Loans Equity   FES  Loans: Equity   Green Resources USD: Equity   
Kagera Sugar Limited:  Loans  Lake Harvest Group: Loans Equity   Lilongw e Dairy (2001) Limited: Loans   
Neofresh  Loans: Equity   Phatisa Food Fund 2: Funds     
Financial implications  Total committed to each project in NOK:   
ASILIA (African Spirit Group Limited):  132 820 720    
European Financing Partners SA:  525 930 551    
FES:  117 410 321    
Green Resources USD:  560 766 539    
Kagera Sugar Limited:  132 159 756    
Lake Harvest Group:  157 821 204    
Lilongwe Dairy (2001) Limited:  86 430 120    
Neofresh:  78 909 320    
Phatisa Food Fund 2:  172 786 938    
 
Total disbursed in 2021 per project in NOK:  
ASILIA (African Spirit Group Limi ted: 13 269 843   
European Financing Partners SA : 20 591 396   
FES: 8 731 401   
Green Resources USD  302   
Kagera Sugar Limited  50 102 140   
Lake Harvest Group  20 781 065   
Lilongwe Dairy (2001) Limited  49 456 785   
Neofresh : 6 318 369   
Phatisa Food Fund 2  16 057 469     
Field of technology  Scalable Enterprises (Agribusiness and Manufacturing)  
 
1 En francés e inglés solamente.    
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Name of programme or project  Scalable Enterprises (Agribusiness and Manufacturing)  
Category of technology  Food and agriculture  
Output or impact  Description by project: ASILIA (African Spirit Group Limited): Asilia is a fully -integrated luxury eco -lodge 
and safari operator in East Africa. The company offers safari experiences that contribute to the 
conservation of the environment and the development of local communities. Norfund provided financing 
for ASILIA to expand its footprint in the region.  European Financing Partners SA: European Financing 
Partners (EFP) is a co -financing mechanism (mainly lending) where several  of Norfunds European sister 
organizations participate along with the European Investment Bank (EIB). The objective is to promote 
the development of the private sector in the ACP countries (African, Caribbean and Pacific Group of 
States), and more than 60 per cent of the investments made to date are in the LDCs. In addition to 
ensuring access to financing large projects in developing countries, EFP also facilitates European 
cooperation and transfer of competence between the European DFIs in a unique manner.  Norfund has 
committed respectively EUR 5 mill ion, EUR 10 mill ion, EUR  10 mill, EUR 10 mill ion and EUR 20 mill ion in 
EFPII, EFPIII, EFPIV, EFPV and EFPVI. FES: FES caters for a broad customer base of commercial and 
emerging farmers. It is the single largest investor in Malawi 's agricultural equipment industry and the 
sole distributor of several well -known and trusted  brands. The company provides a wide range of high -
tech agricultural solutions including precision and low -till farming; drone technology for crop analysis and 
crop protection; irrigation systems including water management solutions; and contracting servic es. 
AgriLab, an FES initiative, is Malawi 's first independent soil - and leaf -testing facility which allows farmers 
to test, manage and control their soil, leaf and water quality. This initiative contributes to improved 
yields and crop quality, increased re venue and reduced input costs. Green Resources USD  "Green 
Resources is the largest forest development and wood processing company in East Africa. The company 
manages approximately 38,000 ha of plantation forest in Mozambique, Tanzania and Uganda. It 
operat es industrial facilities including two sawmills, three pole treatment plants and a briquetting plant. 
The company was established in 1995.  Norfund has been an investor in Green Resources and Sao Hill 
for many years. In 2018, due to financial challenges in  the company, Norfund used its rights to become 
a shareholder. Norfund, with Finnish DFI Finnfund, supports the company to meet its financial and 
sustainability goals. "  Kagera Sugar Limited: Kagera Sugar Limited is a sugar manufacturing company 
situated i n North -Western Tanzania. It was incorporated in 2002 and is involved in growing sugar cane, 
processing and distribution of sugar. Norfund provided funding to Kagera Sugar to expand its production 
capacity.  Lake Harvest Group: African Century Foods is an integrated producer of fish, tilapia, with 
operations in Zimbabwe, Zambia and Uganda. Norfund provided financing for African Century Foodsto 
expand its operations in the region with significant positive impact expected on jobs and on protein 
nutrition.   L ilongwe Dairy (2001) Limited: Lilongwe Dairy is the largest dairy processor in Malawi. It 
produces UHT milk, Yoghurt, juice blends, butter, cheese and cream.   Neofresh  "Neofresh is a South 
African company that specializes in the production, packing and ma rketing of papaya and other sub -
tropical fruits.  The company 's core activity is papaya production (supplying the major supermarket 
chains in South Africa). The company also produces litchies, lemons and mangos, and has recently 
planted new mangos, litchies  and macadamia.  Neofresh has six established farms, two pack houses and 
employs about 400 permanent workers. It uses highly advanced skills and technology in their sub -
tropical fruit production.  In 2017, the company became the key commercial partner to C arthage - a 400 
Ha papaya farm in the Moamba region, which also employs circa 400 people. With this partnership, 
Neofresh can replicate its technology and skills to Mozambique and contribute to a more efficient 
production line and value chain (with higher yields).  Approximately 90% of the papayas produced at 
Carthage are exported to South Africa. Norfund 's investment contributes to skills development, increased   
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Name of programme or project  Scalable Enterprises (Agribusiness and Manufacturing)  
export revenues and tax revenues, job creation and reduced rural poverty in Mozambique.  
Approxi mately 90% of  the papayas produced at Carthage will be exported to South Africa. Norfund 's 
investment will thereby contribute to skills development, increased export revenues and tax revenues, 
job creation and reduced rural poverty in Mozambique. " Phatisa Food Fund 2  "PFF 2 will invest across the 
African food value chain, considering investments in mechanisation, inputs, poultry and meat production, 
food processing and manufacturing, logistics, aggregation and distribution across Sub -Saharan Africa. 
The inv estment will strengthen and increase food supply, local production and distribution across the 
region. The Fund, via its investment in companies in the food value chain, targets over 90,000 small -
holder farmers and micro -entrepreneurs and aims to create ov er 2,000 permanent jobs and sustain 
another 10,000 jobs. " 
Status of the programme or project  Current or in progress  
Duration and timing  Year of initial commitment by project: ASILIA (African Spirit Group Limited): 2013  European Financing 
Partners SA: 2006  FES: 2020  Green Resources USD: 2009  Kagera Sugar Limited: 2020  Lake Harvest 
Group: 2013  Lilongwe Dairy (2001) Limited: 2020  Neofresh: 2017  Phatisa Food Fund 2: 2021  
Website for further information   
Contact point for further information   
 
    
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Name of programme or project  Clean Energy projects (Norfund)  
Objective or purpose  Policy objective/purpose: Contribute to development of profitable enterprises.  Within the field of clean 
energy, Norfund has several investments involving transfer of state -of-the-art technologies to developing 
countries. NOK 2.45 billion were disbursed t o investees within clean energy in LDCs in 2021.   
Entity making the incentive available  Norfund  
Eligible enterprises or institutions in developed 
country Member  Private Sector Enterprises        
Beneficiary Member(s)  Bangladesh; Benin; Burkina Faso; Bur undi; Cambodia; Chad; Democratic Republic of the Congo; The 
Gambia; Guinea; Guinea -Bissau; Lao People's Democratic Republic ; Lesotho; Madagascar; Malawi; Mali; 
Mauritania; Mozambique; Myanmar; Niger; Rwanda; Senegal; Sierra Leone; Tanzania; Uganda; Zambia  
Beneficiary Observer(s)  Ethiopia  
Beneficiary enterprises or institutions  Agua Imara AktivCo Baobab+ Eco -Nor Evolution Fund II (Through KNI) FEI - Facility for Energy Inclusion 
Globeleq Greenlight Planet ICCF Klinchenberg Metier Sustainable Capital Fund II M -Kopa Nam Sim New 
Africa Power responsibility  ACPF Schneider Electric En ergy Access Asia Serengeti Energy SUSI Asia 
Energy Transition Fund (Through KNI)  
Nature of incentive measure  Risk capita l and expertise        
By project: Agua Imara  Loans Equity   
AktivCo  Loans  Baobab+  Equity  Eco -Nor Equity  Evolution Fund II (Through K NI) Funds  
FEI - Facility for Energy Inclusion  Funds  Globeleq  Loans Equity  Greenlight Planet  Loans  ICCF
 Loans  Klinchenberg  Loans Equity  Metier Sustainable Capital Fund II  Funds  M -Kopa Loans  
Nam Sim  Loans  New Africa Power  Equity  responsibility  ACPF Funds  Schneider Electric Energy 
Access Asia  Funds  Serengeti Energy  Loans Equity  SUSI Asia Energy Transition Fund (Through KNI)
 Funds  
Financial implications  Total commitment in NOK per project:  
Agua Imara  996 835 586   
AktivCo  86 295 341   
Baobab+  99 338 250   
Eco-Nor 8 101 752   
Evolution Fund II (Through KNI) 132 028 866   
FEI - Facility for Energy Inclusion  176 515 019   
Globeleq  2 086 652 644   
Greenlight Planet  128 528  932  
ICCF 328 287 244   
Klinchenberg  1 566 204 138   
Metier Sustainable Capital Fund II  175 280 400   
M-Kopa 124 142 906   
Nam Sim  32 588 124   
New Africa Power  16 014 962   
responsibility  ACPF 105 357 598   
Schneider Electric Energy Access Asia  63 214 572   
Serengeti Energy  423 627 905   
SUSI Asia Energy Transition Fund (Through KNI) 67 396 423    
Total disbursed in 2021 per project:  
Agua Imara  505 607 183     
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Name of programme or project  Clean Energy projects (Norfund)  
AktivCo  43 292 427   
Baobab+  50 569 048   
Eco-Nor 8 101 752   
Evolution Fund II (Through KNI) 462 082   
FEI - Facility for Energy Inc lusion  4 916 054   
Globeleq  3 702 258   
Greenlight Planet  18 054 203   
ICCF 6 843  470  
Klinchenberg   1 566 198 188   
Metier Sustainable Capital Fund II 7 039  266  
 M-Kopa 3 676 705   
Nam Sim  498 565   
New Africa Power 67 406   
responsibility  ACPF3 542 291   
Schneider Electric Energy Access Asia  5 247 156   
Serengeti Energy  226 149 749   
SUSI Asia Energy Transition Fund (Through KNI)  447 170    
Field of technology   
Category of technology  Environmentally friendly or sustainable technology  
Output or impact  Description per project: Agua Imara  Agua Imara is a 100% subsidiary of Norfund which owns 
stakes in two hydropower companies: 51% of Lunsemfwa Hydropower Company (LHPC) in Zambia and 
50.1% of Fountaintrade Hydropower Company (F HPC) in Panama. LHPC operates two hydropower plants 
totalling 56 MW and FHPC operates the 58 MW Bajo Frio hydropower plant. Both companies have energy 
projects under development. AktivCo  AktivCo is a subsidiary of Camusat Holding which provides 
energy serv ice solutions to telecom towers owned by mobile network operators. AktivCo has 
incorporated five subsidiaries in Niger, Chad, Cote d 'Ivoire, Cameroon, and Burkina Faso where the 
energy services are being provided. Norfund is providing loans to these subsidiaries together with the 
debt funds Facility for Energy Inclusion (FEI) and Africa Go Green (AGG) and the development finance 
institution Proparco. Baobab+  Baobab+ sells and finances a range of energy and digital access 
solutions benefitting off -grid households and microentrepreneurs in West Africa and Madagascar. The 
company was founded in 2015 by the Baobab Group, a well -known MFI. Baobab+ currently has 
operations in Senegal, Côte d 'Ivoire, Mali and Madagascar and has sold 200,000 solar home systems  
(SHS) and 60,000 smartphones and tablets to date. Baobab+ has recently started operations in DRC and 
Nigeria. Eco -Nor Eco-Nor is a subsidiary of EcoPower of Sri Lanka to own and operate small 
hydropower in developing countries. At establishment, the compa ny has one asset under operation - the 
5 MW Rwimi hydropower plant in Uganda with a pipeline of potential projects in several countries. 
Norfund has provided equity capital to finance the growth of the company. Evolution Fund II (Through 
KNI) Evolution II Fund is a fund managed by Inspired Evolution focusing on renewable energy 
generation as well as energy and resource efficiency in Sub -Saharan Africa. The fund is managed by 
Inspired Evolution. Norfund in a limited partner in the fund. FEI - Facility for En ergy Inclusion  The 
Facility for Energy Inclusion (FEI) On -Grid Fund is a fund for providing debt to small -scale renewable 
energy projects in Africa. FEI On -Grid will support small -scale Independent Power Producers, captive 
power projects and mini -grids by providing a range of debt products. Norfund is an LP in the fund.   
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Name of programme or project  Clean Energy projects (Norfund)  
Globeleq  Globeleq is a leading independent power producer in Africa. It develops, owns and 
operates power plants utilising various technologies across the African continent. The company is h ead 
quartered in London and has operations in South Africa, Tanzania, Kenya, Cote d 'Ivoire and Cameroon. 
Norfund has a 30% ownership in Globeleq, CDC the remaining 70%. The company expects to develop, 
build and operate additional power plants across Sub -Saharan Africa. Greenlight Planet  Greenlight 
Planet is a pay -as-you-go energy provider to off -grid homes in Africa under the brand Sun King. The 
company provides electricity from solar systems through mobile phone payments. Norfund has 
participated in a loan  syndicate to finance the expansion of the business. ICCF  ICCF is a debt 
syndication facility providing debt finance to renewable energy and energy efficiency  projects in 
developing countries. Members of the group include a number of European DFIs as well as EIB and AFD. 
The fund has successfully financed a number of power projects and has been through several rounds of 
increased capital commitments by its members. Norfund was a founding member in 2010 and has 
contributed to each capital increase. Klinchenb erg Klinchenberg is a subsidiary of Norfund that is 
the vehicle for Norfund 's joint venture with Scatec for hydropower development in Africa. Together with 
Scatec the company owns a stake in the Bujagali hydropower asset in Uganda, and has a number of 
hydropower projects under development with local partners in Africa, including the 150 MW Ruzizi 
hydropower project in Rwanda/DRC, the 310 MW Mpatamanga hydropower project in Malawi and the 
120 MW Volobe hydropower project in Madagascar. Metier Sustainable Cap ital Fund II  Metier 
Sustainable Capital Fund II is a fund focusing on renewable energy generation as well as energy and 
resource efficiency investments in Sub Saharan Africa. Norfund is a limited partner in the Fund. M -Kopa
 M-KOPA Solar is a pay -as-you-go energy provider to off -grid homes in East Africa. The company, 
which is headquartered in Nairobi, provides electricity from solar systems through mobile phone 
payments. Norfund has participated in a loan syndicate to finance the expansion of the business. Nam 
Sim Nam Sim is a 9 MW hydropower project in Lao People's Democratic Republic . Norfund has 
provided a senior loan to part finance the construction of the project. The project is under construction. 
Norfund and Finnfund has taken over the shares from the  original Sponsor and we now own 75% of the 
project. New Africa Power  Norfund has provided project development funding towards the development 
of a set of small hydropower projects in Zambia. This is a co -operation between Norfund, Responsibility  
Renewable  Energy Holdings (Kenya), and REH Group (South Africa). The aim is to develop a set of 
hydropower projects for submission to the GET FiT program being planned for Zambia. responsibility  
ACPF responsibility  Access to Clean Power Fund provides debt to compan ies supporting increased 
access to energy with a strong focus on Sub -Saharan Africa and South and Southeast Asia. Norfund is a 
limited partner in the Fund, which is managed by responsibility . Schneider Electric Energy Access Asia
 Schneider Electric Energy Access Asia is an investment fund dedicated to early and growth stage 
ventures in the energy access segment in South and Southeast Asia. It is managed by Schneider 
Electric. Norfund is a founding investor in the fund. Serengeti Energy  Serengeti Energy Limi ted is a 
company with the aim to develop, construct and operate small -scale renewable energy projects in Africa. 
To date the company has invested in a number of hydropower and solar projects and has a number of 
projects under development. Norfund provided equity financing to fund the company`s growth as well as 
a bridge loan.  SUSI Asia Energy Transition Fund (Through KNI)  SUSI Asia Energy Transition Fund 
is a private equity fund which invests in renewable energy projects primarily in the South East Asia 
region. 
Status of the programme or project  Current or in progress    
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Name of programme or project  Clean Energy projects (Norfund)  
Duration and timing  Initial year of commitment per project: Agua Imara  2021 AktivCo  2021 Baobab+  2021 Eco -Nor
 2019 Evolution Fund II (Through KNI)  2019 FEI - Facility for Energy Inclusion  2019 
Globeleq  2014 Greenlight Planet  2019 ICCF  2010 Klinchenberg  2021 Metier Sustainable 
Capital Fund II  2019 M -Kopa 2017 Nam Sim  2011 New Africa Power  2017 responsibility  
ACPF 2019 Schneider Electric Energy Access Asia  2019 Serengeti Energy  2017 SUSI Asia 
Energy Transition Fund (Through KNI)  2021 
Website for further information   
Contact point for further information   
   
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Name of programme or project  DFI - Development Finance Institution  projects  
Objective or purpose  Policy objective/purpose  Contribute to development of profitable enterprises Field of Tech Transfer
 Financial Institutions Financial inclusion is critical to support growth and job creation. When investing 
in banks, microfinance providers, and other financial ins titutions, Norfund focuses on locally owned financial 
institutions with good growth potential that are suited to creating and delivering valuable services. Close to 
NOK 390 million were disbursed to our direct investments in LDCs within the financial secto r in 2021.  
Entity making the incentive available  Norfund  
Eligible enterprises or institutions in developed 
country Member  Private Sector Enterprises  
Beneficiary Member(s)  Angola; Benin; Burkina Faso; Burundi; Cambodia; Central African Republic; Chad; Democratic Republic of 
the Congo; The Gambia; Guinea; Guinea -Bissau; Liberia; Madagascar; Malawi; Mozambique; Niger; Rwanda; 
Senegal; Sierra Leone; Tanzania; Togo; Uganda; Zambia  
Beneficiary Observer(s)   
Beneficiary enterprises or institutions  AfricInvest Financial Inclusion Vehicle (FIVE) Arise B.V. Ecobank Transnational Incorporated (ETI) Hattha 
Kaksekar Ltd (HKL) NorFinance AS  
Nature of incentive measure  Risk capita l and expertise  Per project: AfricInvest Financial Inclusion Vehicle (FIVE)  Equity  Arise B.V.
 Equity  Ecobank Transnational Incorporated (ETI)  Loans  Hattha Kaksekar Ltd (HKL)  Loans  
NorFinance AS  Equity  
Financial implications  Total commitment in NOK:  
AfricInvest Financial Inclusion Vehicle (FIVE)  276 712 404   
Arise B.V.  2 813 875 508   
Ecobank Transnational Incorporated (ETI)  132 291 000   
Hattha Kaksekar Ltd (HKL)  198 436 500   
NorFinance AS  495 097  136  
 
Disbursed in 2021:  
AfricInvest Financial Inclusion Vehicle (FIVE)  21 406  155  
Arise B.V.  122 734 444   
Ecobank Trans national Incorporated (ETI)  37 452 944   
Hattha Kaksekar Ltd (HKL)  179 670 000   
NorFinance AS  28 400 676    
Field of technology   
Category of technology  Other (Financial Institutions )   
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Name of programme or project  DFI - Development Finance Institution  projects  
Output or impact  Description per project: AfricInvest Financial Inclusion Vehicle (FIVE)  AfricInvest Financial Inclusion Vehicle 
(FIVE) is a company targeting equity investments in Tier II and Tier III financial institutions in Africa. It is 
established and will be managed by AfricInvest, one of the leading p rivate equity players in Africa. FIVE has 
by the fourth closing in May 2019 raised EUR 82.5 million and in addition has received conditional 
commitments of another EUR 10 million each from FMO and Norfund. FIVE is seeking to raise EUR 120 million, 
with a l ong-term goal of raising a total of EUR 200 million. The company is structured as an Evergreen. Arise 
B.V. "Arise is an investment and development company (banking platform): Arise takes and manages 
strategic minority stakes in Financial Service Providers in Sub Saharan Africa with the goal to develop these 
institutions into strong, operationally stable Financial Service Providers. The mission of the company is: To 
contribute to the economic growth in Sub -Saharan Africa and the prosperity of its people by i ncreasing 
financial inclusion and employment, strengthening rural development and alleviating poverty. " Ecobank 
Transnational Incorporated (ETI)  ETI was founded in 1985 and progressively expanded its presence across 
33 sub -Saharan Africa countries. The Gro up is organized around four geographical regions: Francophone 
West Africa (UEMOA) where its has 38% of Group assets, Central, East, and Southern Africa (CESA) where 
it has 23% of Group assets, Nigeria (21%) and Anglophone West Africa (AWA) where it has 17%  of Group 
assets. The Group ranks among the top -three banks, by assets, in 16 countries, with particularly strong 
franchises in its core West -African markets of UEMOA and AWA (mainly Ghana). Ecobank has a strong brand 
recognition through a substantial netw ork of over 24 million customers served by some 14,000 employees 
and 690 branches across the continent. Hattha Kaksekar Ltd (HKL)  Founded in 1994 as an NGO food 
project, HKL has grown into a leading mid -size microfinance institution ( "MFI") in Cambodia ( "the country "). 
HKL is Norfund 's equity investment in the microfinance sector in Cambodia. It is currently the 4th largest MFI 
in the country. We have sold our equity position in August 2016.  NorFinance AS  NorFinance AS is a 
specialised investment company i nvesting in the Financial Services sector in Africa. Norfund owns 49%in 
NorFinance along with KLP and Solbakken AS. NorFinance 's sole asset is a shareholding of 15% in Arise B.V.  
Status of the programme or project  Current or in progress  
Duration and timi ng Year of initial commitment per project: AfricInvest Financial Inclusion Vehicle (FIVE)  2018 Arise B.V.
 2016 Ecobank Transnational Incorporated (ETI)  2021 Hattha Kaksekar Ltd (HKL)  2007 NorFinance 
AS 2013 
Website for further information   
Contact point for further information   
 
    
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Name of programme or project  DFI - Development Finance Institution projects  
Objective or purpose  Policy objective/purpose  Contribute to development of profitable enterprises  
Field of Tech Transfer  Funds   In addition to direct investments, Norfund also invests in funds to 
reach more companies and other business areas. Norfund invests in private equity funds, small and 
medium -sized enterprises funds, and impact/venture funds. By investing through local and regional funds, 
Norfund can reach enterprises that often have trouble getting finance from formal banks. In 2021, Norfund 
disbursed close to NOK 223 million to funds in LDCs.  
Entity making the incentive available  Norfund  
Eligible enterprises or institut ions in developed 
country Member  Private Sector Enterprises  
Beneficiary Member(s)  Angola; Bangladesh; Cambodia; Democratic Republic of the Congo; Lao People's Democratic Republic ; 
Liberia; Malawi; Myanmar; Rwanda; Senegal; Sierra Leone; Tanzania; Togo; Ug anda; Zambia  
Beneficiary Observer(s)  Ethiopia  
Beneficiary enterprises or institutions  ACI Motors Ltd Africa Health Fund (Aureos) African Rivers Fund III Agri -Vie II Ascent Rift Valley Fund II 
Ascent Rift Valley Fund Ltd Cambodia Lao People's Democratic R epublic Myanmar Development Fund II 
Cambodia -Lao People's Democratic Republic  Development Fund Cepheus Growth Capital Fund Fanisi 
Capital Fund II Frontier Fund II Myanmar Opportunities Fund II Navis CLMV Neoma Africa Fund Nordic 
Horn of Africa Opportunitie s Fund Novastar Ventures East Africa Fund Solon Capital Holdings Spear Africa 
Holding II Vantage Mezzanine Fund IV - USD Vantage Mezzanine Fund IV - ZAR 
Nature of incentive measure  Risk capita l and expertise  Per project: ACI Motors Ltd  Equity  Africa Health Fund (Aureos)  Funds  
African Rivers Fund III  Funds  Agri -Vie II  Funds  Ascent Rift Valley Fund II  Funds  Ascent Rift 
Valley Fund Ltd  Funds  Cambodia Lao People's Democratic Republic Myanmar Development Fund II
 Funds  Cambodia -Lao People's Dem ocratic Republic  Development Fund  Funds  Cepheus 
Growth Capital Fund  Funds  Fanisi Capital Fund II  Funds  Frontier Fund II  Funds  Myanmar 
Opportunities Fund II  Funds  Navis CLMV  Funds  Neoma Africa Fund  Funds  Nordic Horn of Africa 
Opportunities Fund  Funds   Novastar Ventures East Africa Fund  Funds  Solon Capital Holdings
 Funds  Spear Africa Holding II  Funds  Vantage Mezzanine Fund IV - USD Funds  Vantage 
Mezzanine Fund IV - ZAR Funds  
Financial implications  Commitment in NOK per project:  
ACI Motors Ltd  40 979 410   
Africa Health Fund (Aureos)  44 521 350   
African Rivers Fund III  132 158 928   
Agri-Vie II  130 424 468   
Ascent Rift Valley Fund II  87 869 220   
Ascent Rift Valley Fund Ltd  84 382 017   
Cambodia Lao People's Democratic Republic  Myanmar Developmen t Fund II  93 341 881   
Cambodia -Lao People's Democratic Republic  Development Fund  14 413 903   
Cepheus Growth Capital Fund  135 342 522   
Fanisi Capital Fund II  108 981 117   
Frontier Fund II  29 400 665   
Myanmar Opportunities Fund II  72 787 711   
Navis CLMV  216 821 160   
Neoma Africa Fund  71 936 021   
Nordic Horn of Africa Opportunities Fund  34 298  587  
Novastar Ventures East Africa Fund  83 096 109     
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Name of programme or project  DFI - Development Finance Institution projects  
Solon Capital Holdings  35 030  000  
Spear Africa Holding II  66 664 068   
Vantage Mezzanine Fund IV - USD 211 687 789   
Vantage Mezzanine Fund IV - ZAR 49 833 174    
 
Disbursed in 2021 per project:  
ACI Motors Ltd  36 707 416   
Africa Health Fund (Aureos)  363 837   
African Rivers Fund III  74 605 789   
Agri-Vie II  5 504 359   
Ascent Rift Valley Fund II  2 511 018   
Ascent Rift Valley Fund Ltd  4 649 431   
Cambodia Lao People's Democratic Republic  Myanmar Development Fund II   6 388 033   
Cambodia -Lao People's Democratic Republic  Development Fund  347 562   
Cepheus Growth Capital Fund  681 086   
Fanisi Capital Fund II  4 741 794   
Frontier Fund II  425 176   
Myanmar Opportunities Fund II  23 460 696   
Navis CLMV  28 989 206   
Neoma Africa Fund  183 325   
Nordic Horn of Africa Opportunities Fund  14 422 551   
Novastar Ventures East Africa Fund  497 654   
Solon Capital Holdings  2 133 450   
Spear Africa Holding II  4 690 450   
Vantage Mezzanine Fund IV - USD   118 149   
Vantage Mezzanine Fund IV - ZAR   174 410    
Field of technology  Funds  
Category of technology  Other (Funds)  
Output or impact  Description per project: ACI Motors Ltd  ACI Motors Limited is a Bangladesh -based agricultural 
equipment distributor and the sole manufacturer/distributor of Yamaha motorcycles in the country.   Africa 
Health Fund (Aureos)  Africa Health Fund provides  long term risk capital to private health -related 
businesses in Africa. The fund has a specific bottom -of-the-pyramid orientation. The investment period 
has ended. African Rivers Fund III  The African River Fund III is an SME fund making debt investments in  
about 40 small companies in Uganda, DRC and Angola. Agri -Vie II  "Agri-Vie Fund II is an agri -
business fund with a total size of USD 139,077,000 managed by Exeo capital. The geographical scope for 
the fund is Sub Saharan Africa and the investments are in t he whole value chain of the agricultural and 
aquaculture sectors.  " Ascent Rift Valley Fund II  Ascent Rift Valley Fund II is an East -African private 
equity fund operating in Kenya, Ethiopia & Uganda. The fund aims to invest between USD 5 -15m in SMEs 
with the potential of becoming regional champions.  Ascent Rift Valley Fund Ltd  "The Ascent Rift 
Valley Fund is an SME fund that is operating in East Africa and managed by Ascent Capital. The fund has 
a hands on approach with presence in Ethiopia, Kenya and Uga nda, and is targeting an average deal size 
of approximately USD 3.5 million  NORFUND is investor NO. 1 " Cambodia Lao People's Democratic Republic  
Myanmar Development Fund II  Cambodia -Lao People's Democratic Republic -Myanmar Development 
Fund II (CLMDF II) i s the successor fund to the Cambodia -Lao People's Democratic Republic  Development   
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Name of programme or project  DFI - Development Finance Institution projects  
Fund (CLDF) where Norfund was an anchor investor. The fund is domiciled in Singapore and investing into 
Lao People's Democratic Republic , Cambodia and Myanmar. Norfund is a k ey investor together with the 
Dutch Good Growth Fund (DGGF), FMO and Obviam. The fund manager will have on -the-ground presence 
in Cambodia and Myanmar, as well as Singapore Cambodia -Lao People's Democratic Republic  Development 
Fund Small PE fund for Cambod ia and Lao People's Democratic Republic , managed by EMI and launched 
in December 2009. Total capital of USD 19.6m. Cepheus Growth Capital Fund  Cepheus Growth 
Capital Fund is an investment fund founded by Ethiopian -born partners with extensive local network  and 
local PE experience. It targets export -oriented or import -substituting SMEs, mainly within manufacturing, 
agro-processing and services. Fanisi Capital Fund II  The fund is the successor to Fanisi Venture Capital 
Fund, focusing on early -stage, growth an d change -oriented SME opportunities in East Africa. Frontier Fund 
II "Frontier II is the successor to Frontier Fund (Fund I), established in 2010. Norfund invested in 
Fund I along with IFC, CDC, FMO, and Swedish private investors.  Frontier Fund was the fi rst PE fund in 
Bangladesh. Frontier II is an SME fund investing in small and medium enterprises in Bangladesh. " 
Myanmar Opportunities Fund II  Myanmar Opportunities Fund II (MOF II) is a Yangon investment fund 
targeting SMEs in Myanmar. The fund is managed  by Delta Capital, a manager backed by the SPA (Serge 
Pun Associates, part of the Yoma Group) and the Hong Kong based PE -firm Landmark Capital. The fund 
primarily focus on consumer products and services, technology and financial services. Navis CLMV  Navis 
CLMV is a fund set up to invest in Cambodia, Lao People's Democratic Republic , Myanmar and Vietnam.  
Neoma Africa Fund  The fund has buillt a balanced portfolio of medium -sized enterprises across Africa and 
a variety of sectors, including several pan -Africa n growth stories. Fund management was recently 
transferred to Actis. Nordic Horn of Africa Opportunities Fund  The Nordic Horn of Africa Opportunities 
Fund (the Fund) is an investment fund for Somalian SMEs. The Manager is Shuraako, a US -based fund 
manager and NGO with local presence across Somalia. Norfund is the initiator and anchor investor of the 
Fund and other investors will include Nordic DFIs. The Ministry of Foreign Affairs has funded a first loss 
component of USD 3 million. Novastar Ventures East Af rica Fund  Novastar Ventures is a true venture 
fund of USD 80m, targeting Ethiopia and Kenya.  Solon Capital Holdings  Solon is a company 
investing in West -African markets with its main presence in Sierra Leone and Liberia. In addition, Solon 
has recently es tablished itself in Ghana and the Ivory Coast. Solon 's portfolio includes four companies 
across transportation, education, property development and professional services. Spear Africa Holding II
 "Spear Capital is a Norwegian PE -initiative with local African presence. The fund is targeting small 
and medium sized enterprises (SMEs) in Sub Saharan Africa.  Spear Capital is almost fully funded by 
Norwegian investors. The first fund as closed in 2013. The second fund, Spear Africa Fund II, is set up as 
a traditional PE fund with a term of 10 +1+1 years. Norfund is one of the key investors of this fund together 
with Holta Invest, Gjensidige Foundation and the Dutch Treasury Development Fund Triple Jump. In total, 
these four investors have invested USD 37,5 m illion in Fund II. Spear 's total capital target for Fund II is 
USD 75 million. Fund II will be focused on SMEs in the fast -moving consumer goods sector. Primary 
geographic focus will be Zambia, Zimbabwe, Malawi and South Africa. Norfund 's investment in Spe ar 
Capital Fund II will thereby contribute to supporting viable and commercially -driven SMEs in a market 
where the access to risk capital is scarce and the demand for capital is high. This investment is additional 
in the sense that it gives the fund opport unity to deploy capital to countries where other fund managers 
do not have a strong footprint. On top of that, Norfund 's support to Spear Capital has the potential to 
create increased interest from even more Nordic private investors.  " Vantage Mezzanine F und IV - USD
 Vantage Mezzanine Fund IV is an investment Fund targeting high growth, mid -sized companies 
across Africa through mezzanine investment structures. The Manager, Vantage Capital, is an established   
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Name of programme or project  DFI - Development Finance Institution projects  
Fund Manager based in South Africa. Vantage 's first Mezzanine Fund was established in 2006 and Norfund 
has invested in Fund II. Vantage Mezzanine Fund IV - ZAR Vantage Mezzanine Fund IV is an 
investment Fund targeting high growth, mid -sized companies across Africa through mezzanine investment 
structures.  The Manager, Vantage Capital, is an established Fund Manager based in South Africa. Vantage 's 
first Mezzanine Fund was established in 2006 and Norfund has invested in Fund II.  
Status of the programme or project  Current or in progress  
Duration and timing  Initial year of commitment per project: ACI Motors Ltd  2021 Africa Health Fund (Aureos)  2011 African 
Rivers Fund III  2021 Agri -Vie II  2017 Ascent Rift Valley Fund II  2020 Ascent Rift Valley Fund 
Ltd 2013 Cambodia Lao People's Democratic Republic  Myanmar D evelopment Fund II  2015 
Cambodia -Lao People's Democratic Republic  Development Fund  2009 Cepheus Growth Capital Fund
 2018 Fanisi Capital Fund II  2017 Frontier Fund II  2016 Myanmar Opportunities Fund II
 2018 Navis CLMV  2020 Neoma Africa Fund  2008 Nordic Horn  of Africa Opportunities Fund
 2018 Novastar Ventures East Africa Fund  2013 Solon Capital Holdings 2020 Spear Africa Holding II
 2017 Vantage Mezzanine Fund IV - USD 2021 Vantage Mezzanine Fund IV - ZAR 2021 
Website for further information   
Contact point for further information   
   
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Name of programme or project  Business development and support facility  
Objective or purpose  Norfund has a business development and support facility, which is financed by the Norwegian Ministry of 
Foreign Affairs (MFA) to support sustainable investments. The facility was established in 2000 based on a 
mutual recognition by MFA, Norad and Norfund of the need for technical and professional assistance (TA) in 
relation to investments in the private sector in developing countrie s. The grants contribute to strengthening 
the developmental impacts of Norfund 's investment activities. In 2021, Norfund disbursed NOK 8.8 million to 
45 active projects. 12 of these projects are exclusively in LDCs, with a commitment of NOK 9.8 million. 5 
projects in the portfolio had a regional reach but included LDCs as part of their target countries  
Entity making the incentive available  Norfund  
Eligible enterprises or institutions in developed 
country Member  Private sector entities  
Beneficiary Member( s) Afghanistan; Angola; Bangladesh; Benin; Burkina Faso; Burundi; Cambodia; Central African Republic; Chad; 
Democratic Republic of the Congo; Djibouti; Guinea -Bissau; Lao People's Democratic  Republic ; Lesotho; 
Liberia; Madagascar; Malawi; Mali; Mauritania;  Mozambique; Myanmar; Nepal; Niger; Rwanda; Senegal; 
Sierra Leone; Solomon Islands; Togo; Uganda; Zambia  
Beneficiary Observer(s)  Ethiopia  
Beneficiary enterprises or institutions  Marginpar Group Agri Vie Neo1 PVnoe Neo1 PVnoe Lilongwe Dairy (2001) Limited  FES African Century 
Infrastructure Services Ltd. African Century Real Estates Ltd. Arise B.V. Advans MFI Myanmar Company 
Limited Yoma Bank Limited Scatec  
Nature of incentive measure  business development and support facility  
Financial implications  Total committed in NOK per project:  
Marginpar Group  1 237 000   
Agri Vie  102 000  
 Neo1 PVnoe  255 000   
Neo1 PVnoe  474 000   
Lilongwe Dairy (2001) Limited  196 000   
FES 1 266 000   
African Century Infrastructure Services Ltd.  289 000   
Africa n Century Real Estates Ltd.  724 000   
Arise B.V.   2 172 000   
Advans MFI Myanmar Company Limited  1 422 000   
Yoma Bank Limited  924 000   
Scatec  745 000   
Field of technology   
Category of technology  Other (business development)    
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Name of programme or project  Business development and support facility  
Output or impact  Digitisation is one of the priorities for Business Support and as a result of the pandemic, 2021 continued to 
see an increase for these kinds of projects. Capacity building on Environmental, Social and Governance has 
also been one of the key priorities of the facility during 2021 and there has been high demand from investees 
in LDCs. Through the facility Norfund have co -funded external expertise assisting companies in building their 
internal capacity on these issues.  
Status of the programme or project  Current or in progress  
Duration and timing   
Website for further information   
Contact point for further information   
   
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Name of programme or project  Pre-investment support  
Objective or purpose  The facilities for pre -investment support are application -based and untied. The main users are Norwegian 
enterprises, but foreign enterprises are welcome to apply. The schemes are open for all kinds of technology 
transfer, but priority is given to investments in renewable energy, agriculture (particul arly climate -resilient 
agriculture in Africa), information and communication technologies (ICT) as well as the marine and maritime 
sectors. Technical assistance is the main mode of technology transfer, but the schemes also include 
investments in basic infr astructure. The financing facilities are fully utilized every year. The purpose of the 
Norad facilities for pre -investment support is to encourage firms to invest in developing countries and LDCs. 
The support schemes intend to pave the way for long -term co mmercially viable investments through financial 
support for risk -reducing measures and/or measures that promote the sustainability and feasibility of private 
investment projects. The facilities promote cooperation, including cooperation relating to transfe r of 
technology, through the support of feasibility studies for establishing joint ventures or foreign subsidiaries, 
training to strengthen the local staff and management of joint ventures or companies that are owned wholly 
or partially by one or more fore ign companies, investments in basic environmental infrastructure and basic 
infrastructure (road, water/sanitation, electricity, and telecommunication). The additionality of Norad 's 
support to individual companies has been in helping direct investment towar ds countries and regions where 
companies would not necessarily have invested otherwise, due to lack of contact to facilitate implementation 
and risk, among other reasons. The purpose of the facility is also to facilitate and promote job creation, in 
partic ular for women and youths.  Supported projects are usually completed between one to three years. 
Disbursements to LDCs for this facility in 2021 are listed in Table 1. The Norad facilities for pre -investment 
support have a special window for renewable ener gy investments, also listed in Table 1.  
Entity making the incentive available  Norad  
Eligible enterprises or institutions in developed 
country Member  The main users are Norwegian enterprises, but foreign enterprises are welcome to apply.  
Beneficiary Memb er(s)  Afghanistan; Angola; Bangladesh; Benin; Burkina Faso; Burundi; Cambodia; Central African Republic; Chad; 
Democratic Republic of the Congo; Djibouti; The Gambia; Guinea; Guinea -Bissau; Haiti; Lao People's 
Democratic Republic ; Lesotho; Liberia; Madagascar; M alawi; Mali; Mauritania; Mozambique; Myanmar; 
Nepal; Niger; Rwanda; Senegal; Sierra Leone; Solomon Islands; Tanzania; Togo; Uganda; Yemen; Zambia  
Beneficiary Observer(s)   
Beneficiary enterprises or institutions   
Nature of incentive measure  The purpose of the Norad facilities for pre -investment support is to encourage firms to invest in developing 
countries and LDCs. The support schemes intend to pave the way for long -term commercially viable 
investments through financial support for risk -reducin g measures and/or measures that promote the 
sustainability and feasibility of private investment projects. The facilities promote cooperation, including 
cooperation relating to transfer of technology, through the support of feasibility studies for establis hing joint 
ventures or foreign subsidiaries, training to strengthen the local staff and management of joint ventures or 
companies that are owned wholly or partially by one or more foreign companies, investments in basic 
environmental infrastructure and bas ic infrastructure (road, water/sanitation, electricity, and 
telecommunication).    
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Name of programme or project  Pre-investment support  
Financial implications   
Field of technology   
Category of technology  Other  
Output or impact   
Status of the programme or project  Current or in progress  
Duration and timing   
Website for further information  https://www.norad.no/en/front/  
Contact point for further information   
   
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Name of programme or project  Renewable Energy (Norad)  
Objective or purpose  Within Norad 's support to Renewable Energy the aim is to increase access to renewable energy in developing 
countries, contribute to private sector development, and create jobs. Norad 's support to renewable energy 
focuses on areas where Norway has a special expertise to o ffer and mobilizes private capital and competence 
in areas such as hydropower, solar, wind and bioenergy.  
Entity making the incentive available  Norad  
Eligible enterprises or institutions in developed 
country Member   
Beneficiary Member(s)  Afghanistan; Angola; Bangladesh; Benin; Burkina Faso; Burundi; Cambodia; Central African Republic; Chad; 
Democratic Republic of the Congo; Djibouti; The Gambia; Guinea; Guinea -Bissau; Haiti; Lao People's 
Democratic Republic ; Lesotho; Liberia; Madagascar; M alawi; Mali; Mauritania; Mozambique; Myanmar; 
Nepal; Niger; Rwanda; Senegal; Sierra Leone; Solomon Islands; Tanzania; Togo; Uganda; Yemen; Zambia  
Beneficiary Observer(s)   
Beneficiary enterprises or institutions   
Nature of incentive measure  Within Norad 's support to Renewable Energy the aim is to increase access to renewable energy in developing 
countries, contribute to private sector development, and create jobs. Norad 's support to renewable energy 
focuses on areas where Norway has a special expertise to  offer and mobilizes private capital and competence 
in areas such as hydropower, solar, wind and bioenergy.  
Financial implications   
Field of technology   
Category of technology  Environmentally friendly or sustainable technology  
Output or impact   
Status of the programme or project  Current or in progress  
Duration and timing   
Website for further information  https://www.norad.no/en/front/  
Contact point for further information   
   
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Name of programme or project  Strategic partnerships  
Objective or purpose  Norad has introduced an instrument called strategic partnerships. The grant scheme aims to stimulate to a business 
climate that promotes private sector development in the developing countries, including strategic partnerships with 
private enterprises and non -commercial organizations. Private enterprises and non -commercial organizations that 
jointly address specific weaknesses in value chains in developing countries are part icularly prioritized, but vocational 
training is also a focus area. The facility is application -based and untied. In the most recent application round, projects 
in Ethiopia, Tanzania, and Uganda were granted support. The sectors prioritised for technology transfer are agriculture 
and agro -processing, information and communication technology (ICT), and fish and marine resources. The supported 
projects are multi -year, usually between three and five years. Disbursements to LDCs for this facility in 2021 are li sted 
in Table 2.  
Entity making the incentive available  Norad  
Eligible enterprises or institutions in 
developed country Member   
Beneficiary Member(s)  Afghanistan; Angola; Bangladesh; Benin; Burkina Faso; Burundi; Cambodia; Central African Republic; Chad; 
Democratic Republic of the Congo; Djibouti; The Gambia; Guinea; Guinea -Bissau; Haiti; Lao People's Democratic 
Republic ; Lesotho; Liberia; Madagascar; M alawi; Mali; Mauritania; Mozambique; Myanmar; Nepal; Niger; Rwanda; 
Senegal; Sierra Leone; Solomon Islands; Tanzania; Togo; Uganda; Yemen; Zambia  
Beneficiary Observer(s)   
Beneficiary enterprises or institutions   
Nature of incentive measure   
Financial implications   
Field of technology   
Category of technology  Food and agriculture; Information and communications technology  
Output or impact   
Status of the programme or project  Current or in progress  
Duration and timing   
Website for further information  https://www.norad.no/en/front/  
Contact point for further information   
   
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Name of programme or project  The Norwegian Oil for Development Programme (OfD)  
Objective or purpose  The Norwegian Oil for Development Programme (OfD) aimed at assisting developing countries and LDCs, upon 
their request, in their efforts to manage petroleum resources in a way that generates economic growth and 
promotes welfare of the whole population in a n environmentally sustainable way. The Oil for Development 
Programme is engaged in several other initiatives, either directly or via other donors and implementing partners. 
The Government of Norway has decided to phase out the OfD programme within 2024, in  order to give priority 
to greener development projects.  
Entity making the incentive available  Norad  
Eligible enterprises or institutions in developed 
country Member   
Beneficiary Member(s)  Afghanistan; Angola; Bangladesh; Benin; Burkina Faso; Burundi; Cambodia; Central African Republic; Chad; 
Democratic Republic of the Congo; Djibouti; The Gambia; Guinea; Guinea -Bissau; Haiti; Lao People's Democratic 
Republic ; Lesotho; Liberia; Madagascar; Malawi; Mali; Mauritania; Mozambique; Myanmar; Nepal; Niger; 
Rwanda; Senegal; Sierra Leone; Solomon Islands; Tanzania; Togo; Uganda; Yemen; Zambia  
Beneficiary Observer(s)   
Beneficiary enterprises or institutions   
Nature of incentive measure   
Financial implications   
Field of technology   
Category of technology  Other (manage petroleum resources)  
Output or impact   
Status of the programme or project  Current or in progress  
Duration and timing  Project is set to phase out within 2024.  
Website for further information  https://www.norad.no/en/front/  
Contact point for further information   
   
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Name of programme or project  Development cooperation in fisheries and aquaculture  
Objective or purpose  Within Norwegian development cooperation in fisheries and aquaculture, one aim is to introduce appropriate 
technology and systems, and over time ensure that these are operated as intended. Norway has supported the Nansen 
Programme for more than 40 years. O ne central element in the programme is the research vessel "Dr. Fridtjof 
Nansen ". The programme aims at gathering information about the marine resources and environment, and support 
developing countries and LDCs in utilizing these data for improved managem ent of their marine resources.  
Entity making the incentive available  Norad  
Eligible enterprises or institutions in 
developed country Member   
Beneficiary Member(s)  Afghanistan; Angola; Bangladesh; Benin; Burkina Faso; Burundi; Cambodia; Central African Republic; Chad; 
Democratic Republic of the Congo; Djibouti; The Gambia; Guinea; Guinea -Bissau; Haiti; Lao People's Democratic 
Republic ; Lesotho; Liberia; Madagascar; Malawi; Mali; Mauritania; Mozambique; Myanmar; Nepal; Niger; Rwanda; 
Senegal; Sierra Leone; Solomon Islands; Tanzania; Togo; Uganda; Yemen; Zambia  
Beneficiary Observer(s)   
Beneficiary enterprises or institutions   
Nature of incentive measure   
Financial implications   
Field of technology   
Category of technology  Environmentally friendly or sustainable technology; Food and agriculture  
Output or impact  Since 1990 the programme has mainly been operating in the coastal states of Africa, i ncluding LDCs like Angola, 
Benin, Congo DRC, The Gambia, Guinea, Guinea Bissau, Liberia, Madagascar, Mauritania, Mozambique, Senegal, 
Sierra Leone and Tanzania. The programme has also conducted surveys in Bay of Bengal, including LDCs like Myanmar 
and Bang ladesh. Scientists and managers take part in the planning and operation of the surveys, as well as post -
survey work. The participants learn about instruments and techniques to measure the size and composition of fish 
stocks as well as identification of oth er organisms in the ocean. Physical parameters of the marine environment are 
measured continuously. The results are analysed and formulated as basis for management decisions. With time series 
that are developed, information can be achieved about changes an d trends in the marine environment and its 
resources. The data collected are the property of the country in question. The Food and Agriculture Organization of 
the UN (FAO) manages the programme. The Institute of Marine Research in Norway provides scientifi c expertise.  
Status of the programme or project  Current or in progress  
Duration and timing   
Website for further information  https://www.norad.no/en/front/  
Contact point for further information   
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