Excerpt of Law No. 297 of June 10th, 1971 "International Development Co-operation Act", which replaced the original Law No. 243 of June 7th, 1967. It has subsequently been amended by Law No. 546 of December 19th, 1972, Law No. 168 of March 29th, 1974 and Law No. 145 of March 31st, 1976.
Section 9 concerning The Industrialization Fund for Developing Countries
1) For the purpose of promoting industrial development in developing countries a fund shall be established to promote investments in said countries in collaboration with Danish trade and industries. The Fund shall be a non-profit selfgoverning institution and shall be a legal entity to be designated “The Industrialization Fund for Developing Countries”.
2) The Fund may be subsidized by the Government.
3) The Fund may support Danish investments in developing countries by share subscriptions, financing of feasibility studies, and other initial measures, lending, granting of guarantees, sureties as well as other measures which the Board may deem conducive to the objectives of the Fund.
4) The Fund shall be governed by a Board whose members shall be appointed for three-year terms by the Minister of Foreign Affairs who shall likewise appoint the Chairman and the Vice-Chairman from among the members of the Board. The Fund’s current activities shall be managed by a Director who shall likewise be appointed by the Minister of Foreign Affairs. The administration costs of the Fund shall be paid from the Fund’s own resources.
5) Detailed rules governing the activities of the Fund shall be laid down in Statutes to be submitted to the Minister of Foreign Affairs for his approval.
Copenhagen, March 31st, 1976