{"id":6519,"date":"2023-04-18T11:37:15","date_gmt":"2023-04-18T09:37:15","guid":{"rendered":"https:\/\/norfund.wpenginepowered.com\/annualreport-2022\/?page_id=6519"},"modified":"2023-05-31T12:27:43","modified_gmt":"2023-05-31T10:27:43","slug":"access-to-finance","status":"publish","type":"page","link":"https:\/\/reports.norfund.no\/annualreport-2022\/development-mandate\/impact-development-mandate\/access-to-finance\/","title":{"rendered":"Access to finance"},"content":{"rendered":"\n

Lack of access to finance is regarded as the most important constraint to the development and growth of businesses in low-income countries. Contributing to increased financial inclusion is a key priority for Norfund.<\/p>\n\n\n\n

\n
\n

<\/h3>
8.9<\/span> million<\/span><\/div>

new clients served by direct investments<\/p><\/div>\n<\/div>\n\n\n\n

\n

<\/h3>
89<\/span> billion NOK<\/span><\/div>

increase in lending to clients by direct investments<\/p><\/div>\n<\/div>\n<\/div>\n\n\n\n

\n

Read about our development rationale<\/h3><\/div><\/div><\/div><\/a><\/div>\n<\/div><\/div>\n\n\n\n

Norfund\u2019s impact objectives<\/h2>\n\n\n\n

Norfund has the following impact objective for investments in financial institutions:<\/p>\n\n\n\n

  1. Increasing the provision of financial services<\/li>
  2. Increasing the provision of credit to clients<\/li><\/ol>\n\n\n\n

    This enables economic growth and job creation in low- and middle-income regions and helps to improve living standards.<\/p>\n\n\n\n

    Results 2022<\/strong><\/h2>\n\n\n\n

    Increased provision of financial services<\/strong><\/h3>\n\n\n\n

    The direct investments in our portfolio provided financial services to around 72 million clients in total.<\/p>\n\n\n\n

    Portfolio companies with two consecutive years of reporting increased the total number of clients by 8.9 million (16% growth) during 2022. <\/p>\n\n\n\n

    The financial institutions we have invested in through funds provided access to financial services to an additional 20 million clients.<\/p>\n\n\n\n

    Increased provision of credit to clients<\/strong><\/h3>\n\n\n\n

    The combined loan book of the direct investments in our portfolio reached a total of 726 billion NOK by the end of 2022. Institutions with two consecutive years of reporting had increased their credit provision by 89 billion NOK (20% growth) during the year. <\/p>\n\n\n\n

    The total number of loans provided to clients by the direct investments in our portfolio was 7.6 million, including 5.1 million to retail clients, 1.3 million to microfinance clients and 365,000 to SMEs.<\/p>\n\n\n\n

    726<\/div>
    million<\/div><\/div>
    <\/div><\/div>

    NOK in combined loan book<\/p><\/div>

    20<\/div>
    %<\/div><\/div>
    <\/div><\/div>

    Increase in credit provision since 2021*<\/p><\/div><\/div><\/div>\n\n\n\n

    *For companies with two consecutive years of reporting<\/sub><\/em><\/p>\n\n\n\n

    \"\"<\/figure>\n\n\n\n

    The financial institutions in which we have invested through funds have provided an additional 21 million loans to clients, at a combined value of 131 billion NOK. Institutions with two consecutive years of reporting increased lending by 12.5 billion NOK during the year. <\/p>\n\n\n\n

    \n

    Read more about Financial Inclusion investments<\/h3><\/div><\/div><\/div><\/a><\/div>\n<\/div><\/div>\n\n\n\n

    Increased provision of deposits<\/strong><\/h3>\n\n\n\n

    The direct investments in our portfolio provided a total of 388 billion NOK in combined deposits to 37.7 million clients, of which 33.1 million went to retail and SME clients. Portfolio companies with two consecutive years of reporting increased the total number of deposits by 8.1 million (15% growth) during 2022.<\/p>\n\n\n\n

    The financial institutions in which we have invested through funds provided an additional 78 billion NOK in deposits to 7.8 million clients.<\/p>\n","protected":false},"excerpt":{"rendered":"

    Lack of access to finance is regarded as the most important constraint to the development and growth of businesses in low-income countries. Contributing to increased financial inclusion is a key priority for Norfund. Norfund\u2019s impact objectives Norfund has the following impact objective for investments in financial institutions: Increasing the provision of financial services Increasing the […]<\/p>\n","protected":false},"author":23,"featured_media":6948,"parent":6544,"menu_order":2,"comment_status":"closed","ping_status":"closed","template":"","meta":{"norfund_header_layout":"hero","norfund_header_layout_image_id":6948,"norfund_header_layout_image_focal_point_x":0.5,"norfund_header_layout_image_focal_point_y":0.5,"norfund_header_layout_suptitle":"","norfund_header_layout_subtitle":"Development Mandate","norfund_header_layout_title":"Access to finance","teft_cards_image_id":6948,"teft_cards_image_focal_point_x":0.5,"teft_cards_image_focal_point_y":0.5,"teft_cards_title":"","teft_cards_excerpt":""},"acf":[],"yoast_head":"\nAccess to finance | Annual Report 2022<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/reports.norfund.no\/annualreport-2022\/development-mandate\/impact-development-mandate\/access-to-finance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Access to finance | Annual Report 2022\" \/>\n<meta property=\"og:description\" content=\"Lack of access to finance is regarded as the most important constraint to the development and growth of businesses in low-income countries. 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