Norway

Norway courses its development efforts through two agencies. Its Ministry of Foreign Affairs (MFA) administers development assistance to promote economic development, democratization, implementation of human rights, good governance, and poverty reduction. The Norwegian Agency for Development Cooperation, a directorate under the MFA, ensures and reports on the effectiveness of Norwegian development aid. The country’s aid focuses on climate change and environment, democracy and good governance, education, energy, global health, higher education and research, macroeconomics and public administration, and oil for development. It supports Afghanistan, Bangladesh, India, Indonesia, Myanmar, Nepal, Pakistan, the People’s Republic of China, Sri Lanka, and Viet Nam.

At a Glance

Cumulative Project-Specific Cofinancing

$299.6 million

  

Cumulative Trust Funds Contribution

$76.2 million

  

2020 Project-Specific Cofinancing

  • $45.3 million

2020 Trust Funds Contribution

  • $226,000

Norway contributes to four active trust funds with ADB, further illustrating its commitments to gender, governance, energy, and water. The Gender and Development Cooperation Fund promotes gender equality and women’s empowerment in Asia and the Pacific. The Governance Cooperation Fund aims to support government-led governance reforms striving for transparency, accountability, predictability and/or participation. The Clean Energy Fund improves energy security in developing members and decreases the rate of climate change. The Multi-Donor Trust Fund under the Water Financing Partnership Facility supports the implementation of ADB’s Water Financing Program.

Norway has also been supporting ADB’s private sector operations through its engagement with the Trade Finance Program (TFP). As of December 2020, ADB’s TFP has supported 54 Norwegian export and import transactions (through Norwegian and non-Norwegian banks) to developing Asia valued at over $74.4 million. Exports and imports were to three countries, namely, Bangladesh, Pakistan, and Viet Nam. Isolating TFP’s work with Norwegian banks, the TFP works with 1 bank domiciled in Norway and has provided guarantees supporting $25.3 million in trade in over 35 transactions. The TFP has mobilized $270,000 in cofinancing with banks operating in Norway. This cofinancing helps leverage ADB resources and brings more support for developing members.

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