On 1 September, IFU took over the administration of Danida Business Finance from Danida. The objective is to improve the interaction between IFU and Danida Business Finance and thereby increase Denmark’s contribution to larger infrastructure projects in developing countries. IFU has employed new staff to handle the administration.
Danida Business Finance (DBF) offers financing on favourable terms to sustainable infrastructure projects in developing countries, which would not otherwise have obtained financing on commercial terms. Since 1993, DBF has contributed to hydro and energy projects with high social standards in 29 developing countries.
IFU takes over administration
On 1 September 2017, the administration of DBF was taken over by IFU, who will handle all future cases and requests regarding DBF. The strategic framework for DBF and the authority to allocate funds to the individual projects are maintained at the Danish Ministry of Foreign Affairs.
The objective of moving the administration is to obtain a greater synergy between DBF and IFU’s services.
– Improving the infrastructure is a decisive factor for developing countries to create increased economic growth and jobs in the future. With more strategic and daily cooperation between Danida Business Finance and IFU, we believe that we can handle more large infrastructure projects to the benefit first and foremost of the developing countries, but also to create more business opportunities for Danish trade and industry. Therefore, we look forward to integrating DBF in IFU, said Tommy Thomsen, CEO in IFU.
New staff employed
As of 1 September, IFU has employed a new team to handle the new tasks and service DBF’s clients. The team consists of several of the staff members previously employed with the Ministry of Foreign Affairs.
The new employees are:
Morten Elkjær, Vice President, Finance Sector
Tina Kollerup Hansen, Investment Director, Danida Business Finance
Bente Schiller, Investment Director, Danida Business Finance
Lene Mollerup, Investment Director, Danida Business Finance
Annelise Boysen, Investment Director, Danida Business Finance
Frederik Roslev, Student, Danida Business Finance