NORFUND - The Norwegian Investment Fund for Developing Countries
- Unit
- Event history
- Management Hierarchy
- CCR Hierarchy
- Relations
- Literature
- Annual reports
- Allocation reports
- Laws
- Employees
- Links
- Annual reports
- Organizational principle
- Accounting principles
This page shows the event history for this unit.
01.01.1998 Regular founding
- Case number Parliament sakid=(150)
The Norwegian Parliament established Norfund through the Norfund Law in 1997. Norfund is fully funded by the Norwegian International Development Assistance budget. The Parliament approves Norfund´s annual capital allocation.
The Minister of International Development has constitutional responsibility for Norfund. The Minister of International Development constitutes the General Assembly and exercises the highest authority in the fund. The General Assembly approves Norfund’s statutes and selects the Board of Directors.
Norfund’s Board of Directors is appointed by the Norfund General Assembly and ensures that the Fund operates in accordance with the Norfund Act and its related statutes. The Board of Directors decides Norfund’s strategy, employs the CEO and approves investments which exceed specified thresholds.
Norfund Management Team manages the Fund according to Norfund´s mandate of creating jobs and improving lives in developing countries.
Source: www.norfund.no
01.01.2001* Maintenance by reorganization
- Aureos Capital
Please note that this event has comments in Norwegian that are for the present not translated into English.
01.01.2002* Maintenance by reorganization
Statkraft Norfund Power Invest AS was established in 2002 as a 50-50 Joint Venture between Statkraft and Norfund (Norwegian Investment Fund for Developing Countries).
Norfund is a leading Norwegian risk capital investor in emerging markets, funded by the Norwegian Government.
SN Power’ s business objective is to become a leading hydropower company in emerging markets, contributing to economic growth and sustainable development. SN Power is active in Asia, Africa and Latin America. SN Power actively pursues certified emission reductions (CERs) in all of its hydropower projects worldwide.
Remarks
* = If a date is denoted with an asterisk (*), this implies that the date is not confirmed.
* = If a name is denoted with an asterisk (*), this implies a direct translation from Norwegian to English. The translation is thus not necessarily the official one (if any exists at all).
Comment to the change-of-name event: Sometimes the old and new name is the same. This occur when the translation to English haven’t taken into consideration minor Norwegian name change.