In 2000, IFU participated in 41 investments in developing countries with a total amount of DKK 521 million, which is a historical record. Two thirds of the amount went into the cofinancing of 22 new projects of which 8 were in Africa. The total investments in new projects amounted to DKK 6,500 million, and an estimated 2,300 jobs will be created in these projects.
The above information can be found in the annual report from the Industrialization Fund for Developing Countries, IFU. The Fund participates with share capital and loans in most investments Danish companies make in the developing countries.
Expansion of the Fund’s Capital Base
IFU is a self-governing institution established in 1967, and between 1967-79 a total amount of approx DKK 300 million was paid in by the Danish government. In 1996, the Danish Parliament offered IFU additional capital through the development aid. During 1996-2000, IFU received DKK 150 million each year provided that the money was invested in the poorest developing countries (mainly African).
The injected DKK 750 million were disbursed as IFU invested more than the prerequisite DKK 150 million per year in the poorest countries.
During the 5-year period, the investments were made in 81 projects in 28 developing countries. Most projects are within production and service. IFU’s annual report shows that the companies in question have approx 18,000 employees.
IFU has cofinanced a total of 175 projects during the 5-year period constituting a total amount of DKK 1,800 million.
Positive economic result
In 2000, IFU had a profit of DKK 15 million. The equity capital was DKK 1,800 million to which should be added the provision for losses of DKK 800 million.
For further information please contact:
Sven Riskær, Managing Director, tel: 0045 33 63 75 00