The Finland Ministry of Foreign Affairs is the main actor in development cooperation. The core goal of the Finnish development policy is eradicating extreme poverty and reducing poverty and inequality, together with climate change mitigation, adaptation, and disaster risk management and preparedness. The Finnish Fund for Industrial Development Cooperation Ltd. is a Finnish development finance company providing long-term risk capital for private sector projects in developing countries.
Finland has five specific priorities: (i) rights and status of women and girls; (ii) growth of developing countries’ economies to generate more jobs, livelihood opportunities, and well-being; (iii) democratic and better-functioning societies; (iv) food security, access to water and energy, and sustainable use of natural resources; and (v) education.
Finland supports Nepal and the Central Asia region, particularly the Kyrgyz Republic, Tajikistan, and Uzbekistan, to strengthen human rights, the rule of law, sustainable economic growth, water resource management, and climate change preparedness.
Finland has been one of the most active proponents in ADB of the education sector for many years. Since 2019, Finland has sponsored staff to the Education Sector Group, which has provided valuable contributions.
Sovereign Cofinancing. In 2022, Finland also provided a $7.5 million grant to Nepal for the implementation of Nepal’s School Education Sector Plan, which ADB and several other development partners also support.
Nonsovereign Cofinancing. The Trade and Supply Chain Finance Program (TSCFP) supported six transactions valued at $11.1 million with banks domiciled in Finland from inception to December 2022. During the same period, the TSCFP supported over 190 Finnish exports and/or imports valued at $235.1 million. In 2022 alone, the TSCFP supported 35 Finnish exports and/or imports valued at $8.6 million. Exports and/or imports were mainly to/from Bangladesh, Viet Nam, and Pakistan. Underlying goods involved mostly food and agriculture-related goods, technology and communications, as well as raw and non-energy commodities.
Special funds. Finland contributes to ADB special funds where contributions from financing partners are administered with the same level of care as ADB’s own resources. Since becoming a member in 1966, Finland has committed a total of $231.2 million to special funds, of which $207.6 million went to the Asian Development Fund (ADF). The ADF provides grants to ADB’s low-income developing member countries to promote poverty reduction and improvements in the quality of life.
Active Trust Funds
Trust funds with ongoing projects or no active projects but with remaining funds are considered active
News
ADB Ventures teamed with the Tourism Authority of Thailand to support technology start-up TakeMeTour to develop the LocalFarm online platform and help mitigate the impact of the coronavirus disease (COVID-19) pandemic on Thailand’s tourism sector. The platform enables farmers and gardeners to market seasonal produce directly to consumers. TakeMeTour charges suppliers no fees or commissions to access the platform.
ADB Ventures supports and invests in technology-driven businesses with significant potential to scale and deliver impact, while helping ADB’s developing member countries to achieve the Sustainable Development Goals. Its inaugural ADB Ventures Investment Fund 1 has a 17-year fund life and supports early-stage and growth-stage cleantech, agricultural technology, fintech, and health technology businesses.
Stories
For more than 50 years, ADB is committed to assisting our developing member countries to achieve the goal of quality education for all. Since 1966, Finland has been supporting ADB’s efforts to achieve a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, and has advocated in education investments in the region, along with other member countries.
ADB, along with the International Fund for Agricultural Development and the Government of Finland, has been helping reduce poverty in Cambodia’s Tonle Sap Basin. Through the organization of livelihood improvement groups and the rehabilitation of road and agricultural facilities, they have increased farmers’ access to quality farm inputs including rice seeds, extension materials, training, finance, and better marketing schemes.
- Model Schools Improve Quality of Public Education, Benefit Female, Disadvantaged Students in Nepal
- Nepal: Strong Secondary School Systems for Sustainable Growth
- Private Sector’s Critical Role in Combating Climate Change in Asia and the Pacific
- Reducing Poverty by Empowering the Farmers in Cambodia
- Rice Varieties that Are Ready for Climate Change
- Saving Mongolian Forests with Finnish Expertise
- Strong Secondary School Systems for Sustainable Growth
- Transforming Education System through Model Schools
Project Map
