Sunday, December 15, 2019

Denmark freezes aid, spends more at home

Increased funding of the World Bank and of refugee costs in Denmark have led to a tight Danish aid budget for next year. The total budget will be frozen at the 2009 level - DKK 15.2 billion - and will remain there until 2013.

The new Development Minister Søren Pind steps up private sector aid to Africa. Simultaneously, he weakens the risk capital fund IFU, which invests in developing countries, by grabbing DKK 75 million of its capital to fund a high-tech initiative in Copenhagen.

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