The sustainable development of a thriving private sector needs more than just finance.
The Business Support Program is therefore an important instrument for Norfund to exercise active ownership and responsible investment in high risk sectors and segments.
The main objective of the Business Support Program is to strengthen the development effects of our investment activities and create value additionality.
How it works
The Business Support Program is earmarked Norfund’s portfolio companies and potential portfolio companies. For this grant-based financing, portfolio companies take up to 50% of the project costs.
Areas of support
Business Support mainly focuses on supporting the investment companies the following areas:
- Enterprise improvement and ESG:
Projects that aim to strengthen environmental, social and governance standards, procedures and capacities.
- Local Community Development:
Projects that strengthen local development effects in host communities, by supporting the company’s local community outreach efforts.
- Sector related initiatives
Norfund Business Support program 2019
- 18,7 MNOK funding committed
- 38 active projects
- 78% of funding in Sub-Saharan Africa
The Business Support Program focuses on Norfund’s cross-cutting issues as climate and environment (SDG 13), gender equality (SDG 5), human rights (SDG 16) and anti-corruption.
For more information please contact your Norfund Project Manager.