Norfund adopts IFC Master Cooperation Agreement

Norway's Norfund has become the 35th development finance institution to join the International Finance Corporation's Master Cooperation Agreement. It paves the way for the two institutions to work together to boost private sector investments globally and catalyze jobs and economic growth. IFC's Master Cooperation Agreement - created in 2009 in response to calls by the Group of 20 nations for official finance institutions to collaborate more closely to help meet shortfalls in private sector financing during the global financial crisis - standardizes steps that lenders take when co-financing projects with the lender.