Nordics back new asset class to mobilise pension fund capital for development

Business July 02, 2025 / By: Bjørn H Amland

Five Nordic countries, the Netherlands, and the United Kingdom have given political backing for a new asset class in development financing, involving pension funds co-financing with multilateral development institutions. Their hope is to raise tens of billions of dollars for development finance without tapping into ODA.

Manfred Schepers, CEO of ILX Management.jpg — Manfred Schepers, CEO of ILX Management, says pension funds investing with multilateral banks “can achieve stable and attractive returns” while at the same time making measurable SDG and climate impact. (Photo: ILX)

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Nordics back new asset class to mobilise pension fund capital for development

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