Finland
The Finland Ministry of Foreign Affairs is the main actor for development cooperation. The core goal of the Finnish development policy is the eradication of extreme poverty and reduction of poverty and inequality, together with climate change mitigation, adaptation, disaster risk management and preparedness. The Finnish Fund for Industrial Development Cooperation Ltd. is a Finnish development finance company that provides long-term risk capital for private sector projects in developing countries.
At a Glance
Cumulative Project-Specific Cofinancing
$79.3 million
Cumulative Trust Funds Contribution
$80 million
2020 Trust Funds Contribution
- $21.8 million
Finland has four specific priorities: rights and status of women and girls; growth of developing countries’ economies to generate more jobs, livelihood opportunities, and well-being; democratic and better-functioning societies; and food security, access to water and energy, and sustainable use of natural resources.
Finland’s priority countries are Afghanistan, Nepal, and Myanmar. The country also supports the Central Asia region, particularly the Kyrgyz Republic and Tajikistan, to strengthen human rights, the rule of law, sustainable economic growth, water resource management, and climate change preparedness.
As of December 2020, ADB’s Trade Finance Program (TFP) has supported 104 Finnish export and import transactions (through Finnish and non-Finnish banks) to developing Asia valued at over $218.9 million. Exports and imports were to seven countries, but mostly to Bangladesh, Pakistan, and Viet Nam. Isolating TFP’s work with Finnish banks, the TFP works with two banks domiciled in Finland and has provided guarantees supporting $11.1 million in trade in over six transactions. The program has also mobilized $1.1 million in cofinancing with banks domiciled in Finland. This cofinancing helps leverage ADB resources and brings more support for developing members.
Active Trust Funds
1 January 2014–31 December 2020 Cofinanced Projects
| Country | Project | Cofinancing Amount ($ million) | Type of Cofinancinga |
|---|---|---|---|
| Nepal | Supporting School Sector Development Plan | 22.3 | G |
| Regional | Supporting Low-Carbon Development in Asia and the Pacific through Carbon Markets | 1.4 | TA |
a G = official grant cofinancing, TA = technical assistance cofinancing