Norfund presents a record result for 2007. Its surplus amounts to NOK 242 million with the lion’s share coming from SN Power. In future, Norfund’s main focus will be Africa and poor countries in other regions.
Norway and the World Bank have agreed to arrange a joint conference this fall on illegal capital flight from developing countries. The initiative comes after Norway gave up trying to convince the World Bank to do a study on the role of tax havens in illegal capital flight from developing countries.
Sida’s practice of transferring billions of crowns in aid assignments to Swedish state agencies violates both Swedish public procurement law and EU procurement directives, a report by AffärsConcept AB concludes. As a general rule, such assignments should be tendered competitively.
Statistics provided to Development Today by Sida over the last several years indicate a surge in aid funds transferred to Swedish government authorities. Overall Sida transfers to state agencies have almost quadrupled in the last five years.