Enterprises that are operated profitably and in a sustainable manner in demanding markets generate long-term development effects. Profitability is the key indicator and guideline to whether Norfund’s activities generate development effects.

To further document and monitor the development effects of the companies that receive financing Norfund each year collects information on a number of development indicators. The figures are found in our publications. The following indicators are reported:


All investment areas

Number of persons employed
Proportion of women employed
Total tax contribution
Share of the portfolio in the LDCs, Africa, start-up enterprises and equity investments

Financial Institutions

Deposits (number and amount in NOK)
Loans / total equity
Loans (number and amount in NOK)
Guidelines for exercise of ownership

SME Funds

Number of first-time fund managers
Capital disbursed by fund managers
Fund managers’ approach to the exercise of ownership in the fund’s investment projects

Renewable Energy

Capacity (MW and GWh)
Capacity / average consumption per inhabitant
Reduction of CO2 emissions

Industrial Partnerships

Domestic purchases
Technology transfer (Yes / No)
Improved infrastructure (Yes / No)
Anti-corruption efforts (Yes / No)