NCG has recently been assigned by Danida to assist in the evaluation of the Investment Fund for Developing Countries (IFU).

IFU – the Investment Fund for Developing Countries – provides risk capital and advice to companieswanting to setup a business in developing countries. IFU was established by the Danish government in1967 “with the purpose of promoting economic activity in developing countries by promotinginvestments in these countries in collaboration with Danish trade and industry”. According to the amendments to the law on Danish Development Cooperation (2016), the overall objective of IFU is now indicated as “promoting investments that support sustainable development in developing countries and contribute to the realisation of the Sustainability Development Goals”. IFU is a self-governing fund under the Danish Ministry of Foreign Affairs. The Minister for Development Cooperation approves the statutes of the fund and appoints IFU board members and its CEO. IFU and the IFU-managed investment funds are considered central to mobilising large-scale private funding, including from pension funds, foundations and businesses with a view to investing in sustainable growth, decent employment and technology transfer for addressing e.g. climate and environmental problems in difficult markets in developing countries. IFU should, at the same time, contribute to enhancing the international efforts and ambitions of Danish businesses, including small and medium-sized enterprises.

The evaluation will assess all IFU’s activities since the evaluation in 2004. The primary objective is to:

  1. assess IFU’s contribution to development and commercial outcomes through its investments in developing countries and assess IFU’s strategy and
  2. assess the strategy and envisaged future role in Danish development cooperation, and whether the organization is fit for purpose.
The evaluation is carried out by a team of three external consultants and NCG Managing Director and Partner Marie-Louise Appelquist, who will have the role as project director.