Norfund: How Norway's Development Investment Fund Works
62 matching capital sources on the ASFIP database · Last checked October 2026
Norfund is Norway's development finance institution. It invests in businesses in developing countries with a large share going to renewable energy, plus financial institutions, green infrastructure and scalable enterprises.
Norfund also manages Norway's Climate Investment Fund, which invests in renewable energy in large emitting countries to replace coal and other fossil fuels.
What Norfund finances
Equity, loans and guarantees, generally from a few million dollars upward; renewable energy deals are often much larger. Norfund prefers markets where it can make a real difference and often takes active ownership roles.
How to approach Norfund
Before making contact, have a one-page summary ready: what the project is, where it is, how much you need and in what form (loan, equity, grant), what you have already raised, and the climate or development impact you can measure.
Match your ask to the funder's real ticket size and instruments. Most rejections come from asking the wrong funder for the wrong thing — for example asking a lender for a small grant, or an equity investor for early feasibility money.
The funders
Each profile shows mandate, instruments and sector appetite. Verified contacts and application routes are available to members.
- NorfundDFI · NorwayNorwegian investment fund for developing countries with a strong renewable energy focus.DebtEquityMezzanine
- Norfund Climate Investment FundBlended Finance Facility · NorwayEquityCatalytic CapitalDebt
- FMO - Dutch Entrepreneurial Development BankDFI · NetherlandsDutch development bank focused on energy, agribusiness and financial institutions in Africa.DebtConcessional DebtEquity
- U.S. International Development Finance CorporationDFI · United StatesUS development finance institution mobilising private capital into emerging markets.DebtEquityPolitical Risk Insurance
- British International InvestmentDFI · United KingdomUK development finance institution investing in productive, sustainable and inclusive African businesses.DebtEquityMezzanine
- ProparcoDFI · FrancePrivate-sector arm of Agence Française de Développement, active across Francophone and Anglophone Africa.DebtConcessional DebtEquity
- DEG - Deutsche Investitions- und EntwicklungsgesellschaftDFI · GermanyGerman DFI providing long-term finance to private enterprises in Africa.DebtEquityMezzanine
Showing 7 of 62 matching capital sources. The remaining 55 — including their verified routes and eligibility criteria — are reserved for members.
Common questions
- What does Norfund invest in?
- Mainly renewable energy, financial institutions, green infrastructure and scalable businesses in developing countries.
- What is the Norfund Climate Investment Fund?
- A Norwegian government fund managed by Norfund that invests in renewable energy in countries with large fossil-fuel emissions.
Related guides
Official sources: Norfund. Reviewed by the iSustain Global research team against funders' published criteria.