{"id":427,"date":"2021-04-28T14:57:16","date_gmt":"2021-04-28T12:57:16","guid":{"rendered":"https:\/\/norfund.wpenginepowered.com\/annualreport-2020\/?page_id=427"},"modified":"2023-09-04T10:47:58","modified_gmt":"2023-09-04T08:47:58","slug":"business-support-2021","status":"publish","type":"page","link":"https:\/\/reports.norfund.no\/annualreport-2021\/responsible-investor\/business-support-2021\/","title":{"rendered":"Business Support"},"content":{"rendered":"\n

Norfund\u2019s Business Support facility aims to enhance the sustainability and development effects of our investments.<\/strong> <\/p>\n\n\n\n

Norfund\u2019s Business Support is therefore an important instrument in exercising active ownership and creating value additionality for our investments in high-risk sectors and segments.  <\/p>\n\n\n\n

Following the Norfund strategy<\/a>, Business Support projects actively target the four cross-cutting issues of human rights, anti-corruption, climate and environment, and gender equality.  <\/p>\n\n\n\n

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Business Support facility <\/h3>at norfund.no<\/span><\/div><\/div><\/div><\/a><\/div>\n<\/div><\/div>\n\n\n\n

Business Support projects in 202<\/strong>1<\/h2>\n\n\n\n

In 2021, Norfund received NOK 32 million from the Norwegian MFA to provide technical assistance to our portfolio companies. Throughout the year, the Business Support portfolio consisted of 45 active projects, totaling a committed amount of NOK 64 million. Seventeen of these were new projects to which a total amount of NOK 15 million was committed.  <\/p>\n\n\n\n

Typical areas in the 2021 projects were capacity development and ESG improvement to our investment funds and their portfolio companies.   <\/p>\n\n\n\n

Our work in 2021<\/strong> <\/p>\n\n\n\n

In 2021, Norfund developed a new Business Support strategy that introduces a new structure, a focus on climate adaptation and mitigation, and a Business Support toolbox. The main purpose of this strategy was to make our Business Support facility fit for the future, and to incorporate the facility in Norfund\u2019s overall work and priorities. <\/p>\n\n\n\n

The strategy reintroduces the three main target groups for Business Support, but are slightly adjusted considering the establishment of the Project Development and Risk Mitigation Facility (PDRMF) in 2019: <\/p>\n\n\n\n