The Norwegian aid-financed risk capital fund Norfund has come under scrutiny for registering the management fund Aureos in the tax haven Mauritius. Norfund writes to the Ministry of Foreign Affairs that if it is barred from investing in funds located in tax havens, it cannot participate in co-financing initiatives launched by the World Bank’s private sector arm IFC and regional banks.
Danish Development Minister Ulla Tørnæs has decided to fully untie the procurement of consultancy services and supplies for Danida-financed contracts. She urges DG Internal Market to monitor the record of other EU member states. Meanwhile, Denmark continues to tie mixed credits to least developed countries, ignoring a warning from the OECD. (See DT 18/06)