Companies in Development Cooperation
Developing countries are calling for increased investments from the private sector regarding employment and to create value within the countries where solutions and expertise of companies can effectively contribute to country’s progress. The private sector has in the past years shown distinct interest in stepping up its efforts in development cooperation. Today the private sector contributes as much to development cooperation as the public sector does, which is a major shift in only a decade. In many cases, the private sector looks to developing countries as fast-growing future markets.
The SDG supported projects must be carried out by an Icelandic partner company or companies, officially registered in Iceland, and implemented in collaboration with companies and/or organizations, CSOs, universities or other entities both in Iceland and in partner countries.
More than 20 companies have received funding from the SDG Fund. Most have received larger grant up to 200.000 Euros but a third for pre-exploration projects which are generally around 2 million ISK. Around half of these projects are implemented in the world’s poorest countries, according to OECD DAC standards. Diverse consulting projects in various fields such as energy and geothermal matters, fishing and fisheries management, financial services, health services, legal and regulatory writing, food production and creative industries.