{"id":6553,"date":"2023-04-18T12:14:29","date_gmt":"2023-04-18T10:14:29","guid":{"rendered":"https:\/\/\/?page_id=6553"},"modified":"2024-06-17T15:50:11","modified_gmt":"2024-06-17T13:50:11","slug":"frontier-facility","status":"publish","type":"page","link":"https:\/\/reports.norfund.no\/annualreport-2023\/development-mandate\/frontier-facility\/","title":{"rendered":"Frontier Facility"},"content":{"rendered":"\n<p class=\"has-ingress-font-size\">The Frontier Facility (formerly known as Project Development and Risk Mitigation facility) is managed as a separate facility and has a specific mandate set by the Ministry of Foreign Affairs.<\/p>\n\n\n\n<div class=\"wp-block-group has-gray-light-background-color has-background is-layout-constrained\"><div class=\"wp-block-group__inner-container\">\n<h3 class=\"wp-block-heading\" id=\"h-the-facility-serves-two-purposes\"><strong>The facility serves two purposes:<\/strong><\/h3>\n\n\n\n<ul>\n<li>Enabling early phase project development within Norfund\u2019s investment areas&nbsp;<\/li>\n\n\n\n<li>Risk mitigation for commercial investors that wish to invest in Norfund funded projects, throughout the project cycle&nbsp;<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n<p>The Frontier Facility is used for projects with a higher level of risk than those in Norfund\u2019s core portfolio, and for our most demanding markets \u2013 in particular fragile states and Least Developed Countries. These projects are therefore managed as a separate facility and are not included in Norfund\u2019s overall portfolio valuation.&nbsp;<\/p>\n\n\n\n<p>Norfund approved two new projects in 2023. The first one is <a href=\"https:\/\/reports.norfund.no\/investing-in-fertilizer-based-on-green-hydrogen-in-uganda\/\">an investment in fertilizer based on green hydrogen in Uganda<\/a>, together with the partner Westgass. Strong industrial partners have set joint targets for the annual production of 200 000 tons of locally produced fertilizer, which will provide increased income and food security, without the greenhouse gas emissions usually involved in such production. Norfund is initially investing in the project through a convertible loan under the Frontier Facility. The second project is an investment for project development in the Green Infrastructure department.&nbsp;<\/p>\n\n\n\n<p>During 2023, under the Frontier Facility, <a href=\"https:\/\/reports.norfund.no\/norfund-entering-plastic-recycling-in-nigeria-and-ghana\/\">Norfund also committed EUR 2 million as a convertible loan to Wecyclers Nigeria Limited<\/a>, a recycling company based in Lagos. The investment in Wecyclers will finance a new plant for the recycling of PET-bottled for use in new bottles locally and in Europe. The plant will be located in Ogun state in Nigeria and have a capacity of 12 000 tons per year.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Frontier Facility portfolio<\/h2>\n\n\n<div class=\"norfund-advanced-table-block-container\"><div class=\"norfund-advanced-table-block-container-inner\"><table><thead><tr class=\"\"><th class=\"is-chars\">Investment<\/th><th class=\"is-chars\">Country<\/th><th class=\"is-chars\">Investment year<\/th><th class=\"is-chars\">Sector<\/th><th class=\"is-chars\">Instrument<\/th><th class=\"is-chars\">Ownership share<\/th><th class=\"is-chars\">Domicile <\/th><th class=\"is-chars\">Committed (MNOK)<\/th><\/tr><\/thead><tbody><tr class=\"regular\"><td class=\"is-chars\">Katapult Africa Seed Fund <\/td><td class=\"is-chars\">Africa<\/td><td class=\"is-num\">2022<\/td><td class=\"is-chars\">Scalable Enterprises \u2013 Funds<\/td><td class=\"is-chars\">Equity<\/td><td class=\"is-num\">16.56%<\/td><td class=\"is-chars\">Rwanda<\/td><td class=\"is-num\">2.56<\/td><\/tr><tr class=\"regular\"><td class=\"is-chars\">NMI FLS valuta guarantee<\/td><td class=\"is-chars\">Southeast Asia<\/td><td class=\"is-num\">2021<\/td><td class=\"is-chars\">Financial Inclusion<\/td><td class=\"is-chars\">Foreign exchange guarantee<\/td><td class=\"is-num\">16%<\/td><td class=\"is-chars\">Norway<\/td><td class=\"is-num\">20<\/td><\/tr><tr class=\"regular\"><td class=\"is-chars\">Lobu Dolum HPP<\/td><td class=\"is-chars\">Indonesia<\/td><td class=\"is-num\">2021<\/td><td class=\"is-chars\">Renewable Energy<\/td><td class=\"is-chars\">Loan<\/td><td class=\"is-num\">0%<\/td><td class=\"is-chars\">Norway<\/td><td class=\"is-num\">8.52<\/td><\/tr><tr class=\"regular\"><td class=\"is-chars\">Antler East Africa Fund I<\/td><td class=\"is-chars\">Africa<\/td><td class=\"is-num\">2020<\/td><td class=\"is-chars\">Scalable Enterprises \u2013 Funds<\/td><td class=\"is-chars\">Junior Equity<\/td><td class=\"is-num\">10.04%<\/td><td class=\"is-chars\">Cayman Islands<\/td><td class=\"is-num\">13.37<\/td><\/tr><tr class=\"regular\"><td class=\"is-chars\">Arnergy Solar Ltd<\/td><td class=\"is-chars\">Nigeria<\/td><td class=\"is-num\">2019<\/td><td class=\"is-chars\">Renewable Energy\t<\/td><td class=\"is-chars\">Equity<\/td><td class=\"is-num\">0%<\/td><td class=\"is-chars\">Nigeria<\/td><td class=\"is-num\">17.56<\/td><\/tr><tr class=\"regular\"><td class=\"is-chars\">Malthe Winje Maresi<\/td><td class=\"is-chars\">Kenya<\/td><td class=\"is-num\">2019<\/td><td class=\"is-chars\">Renewable Energy<\/td><td class=\"is-chars\">Loan<\/td><td class=\"is-num\">0%<\/td><td class=\"is-chars\">Kenya<\/td><td class=\"is-num\">1.74<\/td><\/tr><tr class=\"regular\"><td class=\"is-chars\">FEI \u2013 Facility for Energy Inclusion<\/td><td class=\"is-chars\">Africa<\/td><td class=\"is-chars\">2019\t<\/td><td class=\"is-chars\">Renewable Energy\t<\/td><td class=\"is-chars\">Junior Equity\t<\/td><td class=\"is-num\">2%<\/td><td class=\"is-chars\">Mauritius<\/td><td class=\"is-num\">27.54<\/td><\/tr><tr class=\"regular\"><td class=\"is-chars\">WeCyclers<\/td><td class=\"is-chars\">Africa<\/td><td class=\"is-num\">2023<\/td><td class=\"is-chars\">Green Infrastructure\t<\/td><td class=\"is-chars\">Convertible loan<\/td><td class=\"is-num\">0%<\/td><td class=\"is-chars\">Nigeria<\/td><td class=\"is-num\">23<\/td><\/tr><\/tbody><\/table><\/div><\/div>\n\n\n<div class=\"wp-block-buttons is-layout-flex\">\n<div class=\"wp-block-button is-style-arrow\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/reports.norfund.no\/frontier-facility\/\" target=\"_blank\" rel=\"noreferrer noopener\">Read about Frontier Facility at our website<\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Frontier Facility (formerly known as Project Development and Risk Mitigation facility) is managed as a separate facility and has a specific mandate set by the Ministry of Foreign Affairs. The facility serves two purposes: The Frontier Facility is used for projects with a higher level of risk than those in Norfund\u2019s core portfolio, and [&hellip;]<\/p>\n","protected":false},"author":23,"featured_media":7468,"parent":1309,"menu_order":6,"comment_status":"closed","ping_status":"closed","template":"","meta":{"norfund_header_layout":"hero","norfund_header_layout_image_id":6858,"norfund_header_layout_image_focal_point_x":0.53,"norfund_header_layout_image_focal_point_y":0.56,"norfund_header_layout_suptitle":"","norfund_header_layout_subtitle":"","norfund_header_layout_title":"Frontier Facility","teft_cards_image_id":7468,"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":"<!-- This site is optimized with the Yoast SEO plugin v22.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Frontier Facility | Annual Report 2023<\/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-2023\/development-mandate\/frontier-facility\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Frontier Facility | Annual Report 2023\" \/>\n<meta property=\"og:description\" content=\"The Frontier Facility (formerly known as Project Development and Risk Mitigation facility) is managed as a separate facility and has a specific mandate set by the Ministry of Foreign Affairs. 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