Every year, the EU contributes with a considerable amount in billions to the economic, social and climate-friendly development in the developing countries. Part of the funds are allocated through organizations and financial institutions, which manage the funds on behalf of the EU.
IFU has just passed and been approved by the EU’s Pillar Assessment consisting of a comprehensive analysis of the business procedures, purchase and control procedures and financial instruments.
Consequently, IFU is now able to manage the EU’s development funds. This concerns e.g. funds from the EU’s Sustainability Fund to which Denmark contributed with 75 million Danish kroner in 2019.
Rasmus Prehn, minister for development cooperation, said:
“It is very positive that IFU has now been approved to manage EU funds. I am pleased that IFU can now enter into a closer cooperation with the EU. This will offer IFU new possibilities for an even larger engagement in Africa”.
Torben Huss, CEO of IFU, said:
“I am very pleased that IFU has now been approved by the EU. This means that, through the EU financing, IFU can increase our engagement in the developing countries further. This also means that IFU can strenghten the effort, e.g. within strategic areas such as climate, food and the financial sector”.
For further information, please contact:
The Ministry for Foreign Affairs of Denmark: Maria Westh, press adviser for the minister for development cooperation, mawest@um.dk, Tel: +45 50 77 86 64
IFU, the Investment Fund for Developing Countries: Rune Nørgaard, Communication Director, rno@ifu.dk, Tel: +45 22 68 75 60