The Nordic Development Fund looks into Icelandic cooperation in geothermal development

27.1.2010

 

27.01.2010

“The NDF mission was impressed by Iceland's competence in geothermal energy and by the successful training program of the UNU-GTP (United Nation's University - Geothermal Training Program),” says Helge Semb, Managing Director of NDF.

An NDF delegation visited Iceland last week. According to Helge, the purpose of the visit was to get acquainted with Iceland's experience with geothermal energy. “ICEIDA was of special interest to us because of its energy project in Nicaragua where NDF is planning an engagement in the same sector”, he says.

The Nordic Development Fund has received a new mandate. There came a time when it looked as though the NDF would be discontinued, but last spring it was decided that in the future, the NDF would provide grant financing for climate-related interventions in low-income countries. Before that, NDF had been providing soft loans to promote economic and social development in the developing countries.

At NDF´s request, ICEIDA organised an agenda during their visit to Iceland and the delegation met with officials of the Ministry for Foreign Affairs, ISOR (Icelandic GeoSurvey), ICEIDA and UNU-GTP. “We discussed ideas for practical cooperation between Iceland and NDF, including possible co-financing of regional geothermal training centres in Central America and East Africa. The mission also met with representatives of the private sector and academia,” says Helge.  

 In NDF´s recently published Newsletter, Helge says: “we are pleased to begin our work for climate change investments in the world's poorest countries by financing several important projects. Climate change is a considerable challenge to these countries. NDF can, with its experience and its established cooperation with other financiers, support developing countries in confronting the climate issues”.

NDF can provide grants to 27 of the poorest countries in the word, in Africa, Asia and Latin America. Besides from being defined as low income countries, they must also have received grants before from NDF. The grants normally vary between EUR 500,000 and EUR 4,000,000.
 
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