Milestones

NDF celebrates its 15 years of climate financing. Organisational development continues and NDF has grown to have 32 staff members.

Satu Santala (Finland) has been appointed as Managing Director of NDF.

At the end of 2023, NDF’s accumulated project portfolio consisted of 138 projects with total NDF financing of EUR 563 million since the introduction of NDF’s climate change and development mandate in 2009.

NDF continues its work towards financing a high-impact climate portfolio, increasingly including also private sector investments in the portfolio, highlighting thus the importance of collaboration between private and public sectors in the nexus of climate and development.

NDF works to renew the organisation for the better. New departments, institutional policies and documents and a new website were created.

The Board of Directors adopts a new strategy for NDF, and the member countries take a decision to increase NDF's capital by EUR 350 million.

NDF celebrates its 10 years of climate financing and 30 years of operations. An external evaluation of NDF's activities confirms NDF's strong position as an impactful player and a tool for Nordic financing in climate change and development.

Karin Isaksson (Sweden) is appointed as Managing Director of NDF.

NDF’s climate change portfolio reaches EUR 375 million. NDF establishes and becomes manager of the multi-donor Energy and Environment Partnership Trust Fund for Africa (EEP Africa).

NDF approves its 100th new project under its climate change and development mandate.

NDF starts to utilise a greater variety of financial instruments, providing equity and loans for selected new projects, in addition to grants.

Four NDF-backed projects receive UNFCCC’s Momentum for Change Lighthouse Award.

NDF’s 25th Anniversary.  NDF-financed projects receive international recognition.

An external evaluation of NDF’s progress under the climate mandate confirms positive results and is encouraging in showing that the reforms done at NDF have paid off.

Pasi Hellman (Finland) was appointed as Managing Director of NDF.

During the first 18 months of operations under its new mandate, NDF allocates EUR 75 million to 22 new grants for climate change interventions.

Analyses show that there are valid reasons for NDF to continue its activities and the member countries approve a change of Statutes encompassing a new strategic direction and mandate for NDF, securing continued operations. Consequently, NDF shifts focus from concessionary credits for social and economic development to grants for climate change interventions. NDF Board of Directors takes its first grant decisions under the new mandate.

NDF’s credit portfolio amounts to EUR 691 million.

Helge Semb (Norway) was appointed as Managing Director of NDF.

NDF’s member countries do not succeed in reaching an agreement on a fifth capital increase of the Fund and thus discussions on and studies for winding up NDF begin.  

NDF’s credit portfolio amounts to EUR 360 million.

Denmark, Finland, Iceland, Norway and Sweden sign a new treaty on NDF reinforcing NDF’s legal status as an international organisation and granting NDF and the staff immunities and privileges customary for international organisations. 

NDF signs its first private sector loan agreement.

NDF’s credit portfolio amounts to EUR 60 million.

Jens Lund Sörensen (Denmark) was appointed as President of NDF.

NDF´s credit portfolio amounts to EUR 4 million.

NDF opens up its office in Helsinki and begins its operations providing concessionary credits for social and economic development. Carl Ivar Öhman (Sweden) was appointed as President of NDF.