NDF - Financing for climate change and development projects


NDF’s capital base is provided from the development cooperation budgets of the five Nordic countries. Each member country has subscribed to a certain portion of the capital, calculated on the basis the scheme of allocation for joint Nordic financing between the Nordic countries. The scheme of allocation reflects each Nordic country’s proportion of the Nordic Region’s total gross domestic income at factor cost for the last two calendar years.

The capital of NDF has been increased as follows:
1989 SDR* 100 million
1993 SDR 150 million
1996 SDR 265 million
2000 EUR 330 million
2020 EUR 350 million   

100% of the capital committed to 1989-2000 has been paid-in over time, and the same will apply to the capital committed to in 2020. 

The total amount of NDF’s capital and the respective portions of the member countries, are set out in the Statutes.

The available liquidity to fund NDF’s operations is the result of paid in capital, reflows from the portfolio of financed projects and return from treasury operations.

According to NDF’s Liquidity and Investment Management Policy, NDF’s liquid assets should at the beginning of every calendar year cover all its payment obligations for at least twelve months ahead including an additional 20% buffer for unexpected disbursements.

NDF’s accounts are kept in EUR and consequently the financial statements are presented in EUR.

* Special Drawing Rights (SDR) are supplementary foreign exchange reserve assets defined and maintained by the International Monetary Fund (IMF). The value of a SDR is based on a basket of key international currencies reviewed by IMF every five years.

More information

Annual Report 2019
Annual Report 2018
Annual Report 2017
Annual Report 2016
Annual Report 2015
Annual Report 2014

 Annual Report 2013
Annual Report 2012
Annual Report 2011
Annual Report 2010
Annual Report 2009
Annual Report 2008