Norwegian Agency for Development Cooperation
Norwegian Agency for Development Cooperation : NORAD provides financing of project exports from Norway to developing countries for development undertakings which contribute to development and which can be sustained without future external assistance. About 50 percent of Norwegian assistance is bilateral aid; the balance is channelled as multialteral aid through UN specialized agencies and financial institutions, including regional development banks. NORAD bilaterial aid includes provisions for Norwegian private industrial sector participation as suppliers of capital equipment and services and technology. A portion of assistance may involve concessional financing for Norwegian project exports, including mixed credits, export credit guarantees, support for training in connection with project exports, and tied co-financing on grant basis with the World Bank, the African Development Bank, and the Asian Development Bank. NORAD assistance is subject the OECD's Development Assistance Committee guidelines for development assistance and associated financing. NORAD was established in 1968; headquarters are in Oslo, Norway
No records Found