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4 October 2022  
(22-7499) Page: 1/34 
Council for Trade -Related Aspects of  
Intellectual Property Rights  Original: English  
 
REPORT ON THE IMPLEMENTATION OF ARTICLE 66.2  
OF THE TRIPS AGREEMENT  
NORWAY  
The following communication, dated 12 September 2022 , from the delegation of Norway , is being  
circulated pursuant to paragraph 1 of the Decision on Implementation of Article 66.2 of the 
TRIPS  Agreement ( document IP/C/28) . 
 
_______________  
 
 
1  INTRODUCTION  
1.  Article 66.2 of the TRIPS Agreement requires developed country Members to provide incentives 
to enterprises and institutions in their territories for the purpose of promoting and encouraging 
technology transfer to least  developed country (LDC) Members in order to enable them to create a 
sound and viable technological base. The present note provides an overview of th e relevant facilities 
provided by the Norwegian Agency for Development Cooperation (Norad) and the Norwegian 
Investment Fund for Developing Countries (Norfund).  
2.  LDCs are eligible for Norad and Norfund incentive schemes along with other developing countries . 
2  THE NORWEGIAN AGENCY FOR DEVELOPMENT COOPERATION (NORAD)  
3.  Norad is a directorate under the Norwegian Ministry of Foreign Affairs and is responsible for 
quality  assurance of Norwegian development cooperation. Norad also administers several grant 
programmes for specific purposes, among them is private sector development. Norad provides 
incentives for technology transfer to LDCs through its facilities for pre -investment support, strategic 
partnerships, the Oil for Development program and the Fish fo r Development programme. Many 
other programmes supported by Norad also include elements of technology transfer.  
4.  The facilities for pre -investment support are application -based and untied. The main users are 
Norwegian enterprises, but foreign enterprises ar e welcome to apply. The schemes are open for all 
kinds of technology transfer, but priority is given to investments in renewable energy, agriculture 
(particularly 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 infrastructure. The financing 
facilities are fully utilized every year.  
5.  The purpose of the Norad facil ities 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 -reducing 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 establishing joint ventures or for eign 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 ; and investments in basic environmental infrastructure and basic 
infrastructure (roa d, water/sanitation, electricity, and telecommunication). The additionality of 
Norad 's support to individual companies has been in helping direct investment towards countries IP/C/R/TTI/NOR/3  
 
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  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 particular 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 
energy investments, also listed in Table 1.  
Table 1  Disbursements to pre -investment support to firm s to invest in developing 
countries and LDCs. Figures in million NOK.  
Recipient country  DAC Main sector  (code+name)  DAC Sub sector (code+name)  2021  
Ethiopia  321 - Industry  62 - Forest industries  1.5 
Ethiopia Total    1.5 
Malawi  232 - Energy generation, 
renewable sources  20 - Hydro -electric power plants  2.5 
Malawi Total    2.5 
Myanmar  232 - Energy generation, 
renewable sources  20 - Hydro -electric power plants  1.8 
Myanmar Total    1.8 
Rwanda  232 - Energy generation, 
renewable sources  20 - Hydro -electric power plants  19.6 
Rwanda Total      19.6 
Tanzania  232 - Energy generation, 
renewable sources  40 - Wind energy  1.3 
 312 - Forestry  20 - Forestry development  0.7 
Tanzania Total    2.0 
Uganda  311 - Agriculture  93 - Agricultural financial services  1.0 
Uganda Total    1.0 
Zambia  232 - Energy generation, 
renewable sources  20 - Hydro -electric power plants  1.4 
  30 - Solar energy for centralised 
grids 0.4 
Zambia Total    1.9 
Grand Total    30.3 
 
6.  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 mo bilizes 
private capital and competence in areas such as hydropower, solar, wind and bioenergy.  
7.  Norad has also introduced an instrument called strategic partnerships. The grant scheme aims 
to stimulate a business climate that promotes private sector develop ment in developing countries, 
including strategic partnerships with private enterprises and non -commercial organizations. Private 
enterprises and noncommercial organizations that jointly address specific weaknesses in value 
chains in developing countries a re particularly 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 tech nology 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 listed in Table 2.  
  IP/C/R/TTI/NOR/3  
 
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  Table 2  Disbursements to strategic partnership grant scheme. Figures in million NOK.  
Recipient country  DAC Main sector (code+name)  DAC Sub sector (code+name)  2021  
Ethiopia  311 - Agriculture  20 - Agricultural development  7.3 
  61 - Food crop production  0.6 
 321 - Industry  30 - SME development  12.2 
Ethiopia Total    20.2 
Tanzania  311 - Agriculture  20 - Agricultural development  4.8 
Tanzania Total    4.8 
Uganda  220 - Communications  40 - Information and 
communication technology (ICT)  5.4 
 311 - Agriculture  20 - Agricultural development  7.7 
  61 - Food crop production  2.2 
Uganda Total    15.3 
Grand Total    40.3 
 
8.  The Norwegian Oil for Development Programme (OfD) aim s 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 an environmentally sustainable 
way. The Oil for Developm ent 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 . 
9.  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.  One 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 ing developing countries and 
LDCs in utilizing these data for improved ma nagement of their marine resources.  
10.  Since 1990 the programme has mainly been operating in the coastal states of Africa, including 
LDCs like Angola, Benin, Democratic Republic of Congo, The Gambia, Guinea, Guinea Bissau, Liberia, 
Madagascar, Mauritania, Moz ambique, Senegal, Sierra Leone and Tanzania. The programme has 
also conducted surveys in Bay of Bengal, including LDCs like Myanmar and Bangladesh. 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 other 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 and 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 scientific expertise.  
 
3  NORWEGIAN INVESTMENT FUND FOR DEVELOPING COUNTRIES (NORFUND)  
3.1  About Norfund  
11.  The purpose of Norfund is to contribute to building sustainable commercial businesses in 
developing countries by providing risk capital and expertise. Norfund contributes to economic 
development and sustainable jobs in poor countries through the development of profitable  
enterprises, particularly within the fields of clean energy, the financial sector and agribusiness, 
coupled with transfer of knowledge and technology.  
12.  Norfund 's main priority investment region is Sub -Saharan Africa. We also invest in selected 
countries in  South -East Asia and Central America. Norfund has a local presence with offices and staff 
in all the main geographic areas. We aim for a portfolio with at least 33% in LDC s and 50% in Sub -
Saharan Africa as these are areas with a particular shortage of capi tal and expertise. Of new 
commitments in 2021, the LDC share was 23 .2%, which amounts to NOK  1.23 billion. Of the total 
portfolio, our commitment in LDCs is 40%, well above our target of 33%.  IP/C/R/TTI/NOR/3  
 
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  13.  Norfund concentrates investments in clean energy, agribusiness a nd manufacturing, green 
infrastructure, and financial institutions. These are sectors with high developmental returns and 
where Norfund 's prerequisites for mobilising expertise of international quality are good. Assistance 
from Norfund is untied and does n ot have to be in cooperation with Norwegian enterprises.  
14.  Norfund provides capital in the form of equity and debt. Preference is given to equity 
investments because in most developing countries equity is the scarcest type of capital that 
enterprises need. O ur direct ownership enables us to be an influential investor and have direct impact 
on company governance. As an equity investor, we have a long -term perspective on our 
investments. Technology and competence transfers are an integral part of Norfund 's inve stment 
activities, both regarding operational and industrial management, as well as health, safety and 
environmental issues. The development of these elements is core to the organization 's mission.  
15.  Norfund exercises active ownership in the companies and fu nds it invests in, and it often 
requires seats on the investees ' boards or other decision -making bodies. This gives Norfund 
proximity to operations and the possibility of influencing practices and standards over time. Given 
an ownership horizon of 4 -10 yea rs, Norfund works for the creation of a corporate culture that is 
engaged in continuous improvement of corporate governance, and environmental and social 
standards. Action plans are sometimes used to stake out a long -term course for how companies 
should sh ift from operating according to local standards to using international standards.  
16.  Norfund also 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 countries. The grants contri bute 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 port folio 
had a regional reach but included LDCs as part of their target countries. Overview of Norfund 's TA 
with disbursements in LDCs in 2021 are shown in Tables E and F and p p. 26-27 of the Annex . 
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 de mand from investees in LDCs. Through the facility Norfund ha s co-funded external 
expertise assisting companies in building their internal capacity on these issues.  
3.2  Investments in agribusiness and manufacturing  
17.  Within the agribusiness and manufacturing sect or, Norfund disbursed around NOK 185 million 
in 2021 to our direct investments in investees ' operations in  LDCs. Overview s of Norfund 's 
investments in agribusiness and manufacturing with disbursements in LDCs in 2021 are shown in 
Table A  and pp. 14-16 of the Annex . 
3.3  Investments in clean energy  
18.  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 w as disbursed to investees within 
clean energy in LDCs in 2021. Clean energy investments with disbursements to LDCs in 2021 are 
listed in Table B  and pp. 17-20 of the Annex . 
3.4  Investments in financial institutions  
19.  Financial inclusion is critical to support grow th and job creation. When investing in banks, 
microfinance providers, and other financial institutions, Norfund focuses on locally -owned financial 
institutions with good growth potential that are suited to creating and delivering valuable services. 
Close t o NOK 390 million w as disbursed to our direct investments in LDCs within the financial sector 
in 2021. An overview of Norfund 's investments in the financial sector with disbursements in LDCs in 
2021 is shown in Table C  and p p. 21-22 of the Annex . 
20.  In additi on 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 IP/C/R/TTI/NOR/3  
 
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  funds, and impact/venture funds. By investing through local and regional f unds, 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. An overview of Norfund 's investments in funds with 
disbursements in LDCs in 2021 is shown i n Table D  and p p. 23-26 of the Annex . 
   
  IP/C/R/TTI/NOR/3  
 
- 6 - Table A - Scalable enterprises  
Title of 
project/programme 
incentive  DFI - Development Finance Institution  
Policy objective/purpose  Contribute to development of profitable enterprises  
Funding agency  Norfund  
Actors elig ible for support  Private Sector Enterprises  
Field of Tech Transfer  Scalable Enterprises (Agribusiness and Manufacturing)  
Type of Tech Transfer  Risk capita l and expertise  
Ongoing projects in LDCs 
(disbursements/commitments 
in NOK)  Country  Name of project  Sub sector  Disbursed in 2021 
(NOK)  Total commitment 
(NOK)  Type of capital  Year of initial 
commitment  
Tanzania  ASILIA (African 
Spirit Group 
Limited)  Tourism  13,269,843  132,820,720  Loans Equity  2013 
Tanzania 
Mozambique 
Zambia Senegal 
Niger Democratic 
Republic of Congo 
Haiti European Financing 
Partners SA  Investment funds  20,591,396  525,930,551  Loans Equity  2006 
Malawi  FES Agriculture, forestry 
and fishing  8,731,401  117,410,321  Loans Equity  2020 
Uganda Tanzania 
Mozambique  Green Resources 
USD Forestry and logging  302  560,766,539  Equity  2009 
Tanzania  Kagera Sugar 
Limited  Crop and animal 
production, hunting 
and related service 
activities  50,102,140  132,159,756  Loans  2020 
Uganda Zambia  Lake Harvest Group  Fishing and 
aquaculture  20,781,065  157,821,204  Loans Equity  2013 
Malawi  Lilongwe Dairy 
(2001) Limited  Crop and animal 
production, hunting 
and related service 
activities  49,456,785  86,430,120  Loans  2020 
Mozambique  Neofresh  Crop and animal 
production, hunting 
and related service 
activities  6,318,369  78,909,320  Loans Equity  2017 
Zambia Malawi  Phatisa Food Fund 2  Agriculture, forestry 
and fishing  16,057,469  172,786,938  Funds  2021 
  
  IP/C/R/TTI/NOR/3  
 
- 7 - Table B - Clean Energy  
Title of project/Programme 
incentive  DFI - Development Finance Institution  
Policy objective/purpose  Contribute to development of profitable enterprises  
Funding agency  Norfund  
Actors eligible  for support  Private Sector Enterprises  
Field of Tech Transfer  Clean Energy  
Type of Tech Transfer  Risk capital  and expertise  
Ongoing projects in LDCs 
(disbursements/commitments in 
NOK)  Country  Name of 
project  Sub sector  Disbursed in 
2021 (NOK)  Total commitment 
(NOK)  Type of capital  Year of 
initial 
commitment  
Zambia  Agua Imara  Energy  505,607,183  996,835,586  Loans Equity  2021 
Niger Burkina Faso 
Chad AktivCo  Solar power  43,292,427  86,295,341  Loans  2021 
Madagascar 
Senegal Mali  Baobab+  Solar power  50,569,048  99,338,250  Equity  2021 
Uganda  Eco-Nor Hydropower  8,101,752  8,101,752  Equity  2019 
Uganda Burundi  Evolution Fund II 
(Through KNI)  Energy  462,082  132,028,866  Funds  2019 
Uganda Tanzania 
Mozambique 
Rwanda Zambia 
Madagascar 
Senegal Burkina 
Faso Sierra Leone 
Malawi Lesotho 
Democratic 
Republic of Congo 
Burundi Guinea 
Mali Benin Gambia 
Guinea -Bissau 
Mauritania  FEI - Facility for 
Energy Inclusion  Energy  4,916,054  176,515,019  Funds  2019 
Tanzania  Globeleq  Energy  3,702,258  2,086,652,644  Loans Equity  2014 
Uganda Tanzania 
Myanmar  Greenlight Planet  Solar power  18,054,203  128,528,932  Loans  2019 
Bangladesh 
Uganda Cambodia 
Ethiopia Burkina 
Faso Chad  ICCF Energy  6,843,470  328,287,244  Loans  2010 
 
   
  IP/C/R/TTI/NOR/3  
 
- 8 - Title of project/Programme 
incentive  DFI - Development Finance Institution  
Ongoing projects in LDCs 
(disbursements/commitments in 
NOK)  Country  Name of project  Sub sector  Disbursed in 
2021 (NOK)  Total commitment 
(NOK)  Type of capital  Year of 
initial 
commitment  
Uganda Rwanda 
Madagascar 
Malawi Congo, 
Burundi  Klinchenberg  Hydropower  1,566,198,188  1,566,204,138  Loans Equity  2021 
Mozambique 
Senegal  Metier Sustainable 
Capital Fund II  Energy  7,039,266  175,280,400  Funds  2019 
Uganda  M-Kopa Solar power  3,676,705  124,142,906  Loans  2017 
Lao People's 
Democratic 
Republic  Nam Sim  Hydropower  498,565  32,588,124  Loans  2011 
Zambia  New Africa Power  Hydropower  67,406  16,014,962  Equity  2017 
Uganda 
Tanzania 
Senegal  responsibility  
ACPF Energy  3,542,291  105,357,598  Funds  2019 
Bangladesh 
Cambodia  Schneider Electric 
Energy Access 
Asia Energy  5,247,156  63,214,572  Funds  2019 
Uganda Rwanda 
Zambia Malawi  Serengeti Energy  Hydropower  226,149,749  423,627,905  Loans Equity  2017 
Bangladesh 
Cambodia Lao 
People's 
Democratic 
Republic 
Myanmar  SUSI Asia Energy 
Transition Fund 
(Through KNI)  Energy  447,170  67,396,423  Funds  2021  
  IP/C/R/TTI/NOR/3  
 
- 9 - Table C - Financial Institutions  
Title of project/Programme 
incentive  DFI - Development Finance Institution  
Policy objective/purpose  Contribute to development of profitable enterprises  
Funding agency  Norfund  
Actors eligible  for support  Private Sector Enterprises  
Field of Tech Transfer  Financial Institutions  
Type of Tech Transfer  Risk capital  and expertise  
Ongoing projects in LDCs 
(disbursements/commitments in 
NOK)  Country  Name of project  Sub sector  Disbursed in 
2021 (NOK)  Total commitment 
(NOK)  Type of capital  Year of 
initial 
commitment  
Tanzania Angola 
Mozambique 
Rwanda Zambia 
Madagascar Malawi  AfricInvest Financial 
Inclusion Vehicle 
(FIVE)  Banking  21,406,155  276,712,404  Equity  
2018 
Uganda Tanzania 
Mozambique 
Rwanda Zambia 
Senegal Togo 
Burkina Faso Mali 
Benin  Arise B.V.  Banking  122,734,444  2,813,875,508  Equity  
2016 
Uganda Tanzania 
Mozambique 
Rwanda Zambia 
South Sudan 
Senegal Togo Niger 
Burkina Faso 
Sierra Leone 
Malawi Liberia 
Democratic 
Republic of Congo  
Burundi Guinea 
Chad Mali Benin 
Gambia 
Guinea - Bissau 
Central African 
Republic Sao Tome 
And Principe  Ecobank 
Transn ational 
Incorporated (ETI)  Banking  37,452,944  132,291,000  Loans  
2021 
Cambodia  Hattha Kaksekar Ltd 
(HKL)  Microfinance  179,670,000  198,436,500  Loans  2007 
Uganda Tanzania 
Mozambique 
Rwanda Zambia 
Senegal Togo 
Burkina Faso Mali 
Benin  NorFinance AS  Banking  28,400,676  495,097,136  Equity  
2013  
  IP/C/R/TTI/NOR/3  
 
- 10 - Table D – Funds  
Title of project/Programme 
incentive  DFI - Development Finance Institution  
Policy objective/purpose  Contribute to development of profitable enterprises  
Funding agency  Norfund  
Actors eligible  for support  Private Sector Enterprises  
Field of Tech Transfer  Funds  
Type of Tech Transfer  Risk capital  and expertise  
Ongoing projects in LDCs 
(disbursements/commitments in 
NOK)  Country  Name of project  Sub sector  Disbursed in 
2021 (NOK)  Total commitment 
(NOK)  Type of capital  Year of 
initial 
commitment  
Bangladesh  ACI Motors Ltd  Manufacture of 
motor vehicles, 
trailers and 
semi-trailers  36,707,416  40,979,410  Equity  2021 
Uganda 
Zambia Togo  Africa Health Fund 
(Aureos)  Investment 
funds  363,837  44,521,350  Funds  2011 
Uganda 
Angola 
Democratic 
Republic of 
Congo  African Rivers Fund 
III Investment 
funds  74,605,789  132,158,928  Funds  2021 
Tanzania 
Zambia 
Ethiopia  Agri-Vie II  Investment 
funds  5,504,359  130,424,468  Funds  2017 
Uganda 
Ethiopia  Ascent Rift Valley 
Fund II  Investment 
funds  2,511,018  87,869,220  Funds  2020 
Uganda 
Ethiopia  Ascent Rift Valley 
Fund Ltd  Investment 
funds  4,649,431  84,382,017  Funds  2013 
Cambodia Lao 
People's 
Democratic 
Republic 
Myanmar  Cambodia Lao 
People's Democratic 
Republic Myanmar 
Development Fund 
II Investment 
funds  6,388,033  93,341,881  Funds  2015 
Cambodia  Cambodia - Lao 
People's Democratic 
Republic 
Development Fund  Investment 
funds  347,562  14,413,903  Funds  2009 
Ethiopia  Cepheus Growth 
Capital Fund  Investment 
funds  11,681,086  135,342,522  Funds  2018 
Uganda 
Tanzania 
Rwanda  Fanisi Capital Fund 
II Investment 
funds  4,741,794  108,981,117  Funds  2017 
 
   
  IP/C/R/TTI/NOR/3  
 
- 11 -  
Title of project/Programme 
incentive  DFI - Development Finance Institution  
Ongoing projects in LDCs 
(disbursements/commitments in 
NOK)  Country  Name of project  Sub sector  Disbursed in 
2021 (NOK)  Total commitment 
(NOK)  Type of capital  Year of 
initial 
commitment  
Bangladesh  Frontier Fund II  Investment 
funds  425,176  29,400,665  Funds  2016 
Myanmar  Myanmar 
Opportunities 
Fund II  Investment 
funds  23,460,696  72,787,711  Funds  2018 
Cambodia 
Lao People's 
Democratic 
Republic 
Myanmar  Navis CLMV  Investment 
funds  28,989,206  216,821,160  Funds  2020 
Ethiopia 
Senegal  Neoma Africa 
Fund Investment 
funds  183,325  71,936,021  Funds  2008 
Somalia  Nordic Horn of 
Africa 
Opportunities 
Fund Investment 
funds  14,422,551  34,298,587  Funds  2018 
Uganda  Novastar 
Ventures East 
Africa Fund  Investment 
funds  497,654  83,096,109  Funds  2013 
Sierra Leone 
Liberia  Solon Capital 
Holdings  Investment 
funds  2,133,450  35,030,000  Funds  2020 
Zambia 
Malawi  Spear Africa 
Holding II  Manufacturing  4,690,450  66,664,068  Funds  2017 
Uganda  Vantage 
Mezzanine Fund 
IV - USD Investment 
funds  118,149  211,687,789  Funds  2021 
Uganda  Vantage 
Mezzanine Fund 
IV - ZAR Investment 
funds  174,410  49,833,174  Funds  2021  
  IP/C/R/TTI/NOR/3  
 
- 12 - Table E - TA projects  
TA projects in direct investments  
Country  Investee  TA Project Name  Topic  Committed amount NOK  
Ethiopia  Marginpar Group  Maringpar Kaizen 
Implementation Ethiopia, 
Leadership and Team 
Development  Capacity development  1,237,000  
Ethiopia  Agri Vie  Agri Vie ESG and OHS Training 
2019 - 2020 ESG/ CSR external  102,000  
Lesotho  Neo1 PVnoe  Scatec Lesotho project 
development Rural Electrification 
Project  project development  255,000  
Lesotho  Neo1 PVnoe  Scatec Lesotho Community Legal 
& ES Initiatives  CSR/ESG External  474,000  
Malawi  Lilongwe Dairy (2001) Limited  Lilongwe Dairy ESG and Covid 
support  ESG internal  196,000  
Malawi  FES FES ESG Risk Management  ESG/CSR internal  1,266,000  
Mozambique  African Century Infrastructure 
Services Ltd.  ACIS emergency grant  ESG/CSR internal  289,000  
Mozambique  African Century Real Estates Ltd.  ACRE emergency grant  ESG/CSR internal  724,000  
Mozambique  Arise B.V.  Arise TA Facility  Capacity Development  2,172,000  
Myanmar  Advans MFI Myanmar Company 
Limited  Advans Myanmar Capacity 
Development  Capacity Development  1,422,000  
Myanmar  Yoma Bank Limited  Yoma Bank Business Integrity 
and Stakeholder Management 
Plan phase II  ESG/CSG internal  924,000  
Rwanda  Scatec  Scatec Covid -19 relief efforts  ESG/CSR external  745,000   
  IP/C/R/TTI/NOR/3  
 
- 13 - Table F - TA projects  
TA projects with a regional reach and/ or through fund investments  
Country  Investee  TA Project  Topic  Committed amount NOK  
Regional, but including Malawi 
and Ethiopia  Global  Technoserve CASA Partnership 
for smallholder farmers  Capacity Development  1,755,000  
Regional, but including Malawi, 
Ethiopia, Zambia, Uganda, 
Mozambique  AgDevCo  AgDevCo TAF with a focus on 
smallholder farmers, climate and 
gender  Capacity Development  8,778,000  
Regional, but including Ethiopia 
and Uganda  Ascent Rift Valley Fund II  ARVF TAF  2021 - 2022 for 
capacity development  Capacity Development  1,577,000  
Regional, but including  Novastar  Novastar TA 2021 - 2022 for 
capacity development  Capacity Development  2,131,000  
Regional, but including Zambia  Global  Hibis Business Integrity 
Assessment 2020 - 2021 ESG internal  975,000  
  
  IP/C/R/TTI/NOR/3  
 
- 14 - 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 expertise 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   Lilongwe Dairy (2001) Limited: Loans   
Neofresh  Loans: Equity   Phatisa Food Fund 2: Funds     
Financial implications  Total committed to ea ch 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 Financ ing 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 In English and French only.   
  IP/C/R/TTI/NOR/3  
 
- 15 - 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 t he 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 EF PVI. 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 services. 
AgriLab, an FES initiative, is Ma lawi'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 revenue 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 
operates industrial facilities including tw o 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 in North -Western Tanzania. It was inco rporated 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.   Lilongwe Dairy (2001) Limited: Lilongw e 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 marketing 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 Carthage - 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  
  IP/C/R/TTI/NOR/3  
 
- 16 - Name of programme or project  Scalable Enterprises (Agribusiness and Manufacturing)  
export revenues and tax revenues, job creation and reduced rural poverty in Mozambique.  
Approximately 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 acr oss 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 investment will strengthen and increa se 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 over 2,000 permanent jobs and sustai n 
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   
 
   
  IP/C/R/TTI/NOR/3  
 
- 17 - 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 I I M-Kopa Nam Sim New 
Africa Power responsibility  ACPF Schneider Electric Energy 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 KNI)  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 Ene rgy 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    
  IP/C/R/TTI/NOR/3  
 
- 18 - 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 Inclusion  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 Zamb ia and 
50.1% of Fountaintrade Hydropower Company (FHPC) 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 subsi diary of Camusat Holding which provides 
energy service 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 p rovided. 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 Madag ascar 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 deve loping countries. At establishment, the company 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 limit ed partner in the fund. FEI - Facility for Energy 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 Produce rs, captive 
power projects and mini -grids by providing a range of debt products. Norfund is an LP in the fund.  
  IP/C/R/TTI/NOR/3  
 
- 19 - 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 a cross the African continent. The company is head 
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 gro up 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. Klinchenberg  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 hydropo wer 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 Capital 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 syndica te 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 an d 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 -operat ion 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  Acces s to Clean Power Fund provides debt to companies 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 Limited 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   
  IP/C/R/TTI/NOR/3  
 
- 20 - 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   
  
  IP/C/R/TTI/NOR/3  
 
- 21 - 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, microfina nce providers, and other financial institutions, 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 investme nts in LDCs within the financial sector 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: AfricIn vest 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 Transnational 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 )  
  IP/C/R/TTI/NOR/3  
 
- 22 - 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 private 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. FIV E is seeking to raise EUR 120 million, 
with a long -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 -Sahar an Africa and the prosperity of its people by increasing 
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 Group 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%) an d 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 stro ng brand 
recognition through a substantial network 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 m icrofinance 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 investing 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 pr oject  Current or in progress  
Duration and timing  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   
 
   
  IP/C/R/TTI/NOR/3  
 
- 23 - 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/ventu re 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 institutions 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; Uganda; 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 Fu nd Ltd Cambodia Lao People's Democratic Republic 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 Afric a Fund Nordic 
Horn of Africa Opportunities 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 D evelopment Fund II
 Funds  Cambodia -Lao People's Democratic 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 Development 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    
  IP/C/R/TTI/NOR/3  
 
- 24 - 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 Opportuniti es 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 R iver 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 the 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 Uganda, 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) is the successor fund to the Cambodia -Lao People's Democratic Repub lic Development  
  IP/C/R/TTI/NOR/3  
 
- 25 - 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 key investor together with the 
Dutch Good Growth Fund (DGGF), FMO a nd 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 Cambodia and Lao People's Democratic Republic , managed by EMI and launch ed 
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 and 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 first 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 Associat es, 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 Democrat ic 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 -African growth stories. Fund management was recently 
transferred to Acti s. 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 initiat or 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 Africa Fund  Novastar Ventures is a true venture 
fund of USD 80m, tar geting 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 established itself in Ghana and the Ivory Coast. Solon 's portfolio i ncludes 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 enterpris es (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 k ey 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 million in Fund II. Spear 's total capital target for Fund II is 
USD 75 mi llion. 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 Spear 
Capital Fund II will thereby contribute to supporting viable and comm ercially -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 opportunity to deploy capital to countries where other fund managers 
do not ha ve 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 Fund IV - USD
 Vantage Mezzanine Fund IV is an investment Fund targeting h igh growth, mid -sized companies 
across Africa through mezzanine investment structures. The Manager, Vantage Capital, is an established  
  IP/C/R/TTI/NOR/3  
 
- 26 - 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 Fu nd 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 S outh 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 Heal th 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 Development Fund II  2015 
Cambodia -Lao People's Democratic Republic  Develo pment 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   
  
  IP/C/R/TTI/NOR/3  
 
- 27 - 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 countries. The grants contribute to strengthening 
the developmental impac ts 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   
African 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)   
  IP/C/R/TTI/NOR/3  
 
- 28 - 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   
  
  IP/C/R/TTI/NOR/3  
 
- 29 - 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 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  The purpose o f 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 -reducing measure s 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 establishing join t 
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 basic infras tructure (road, water/sanitation, electricity, and 
telecommunication).   
  IP/C/R/TTI/NOR/3  
 
- 30 - 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   
  
  IP/C/R/TTI/NOR/3  
 
- 31 - 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; 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  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   
  
  IP/C/R/TTI/NOR/3  
 
- 32 - 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; 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  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   
  
  IP/C/R/TTI/NOR/3  
 
- 33 - 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   
  
  IP/C/R/TTI/NOR/3  
 
- 34 - 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; 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  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, including L DCs 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 Bangladesh. Sc ientists 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 other organis ms 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 and trends i n 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 scientific expertis e. 
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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