Norfund defends tax haven investments, points to IFC standard

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.