MOBILIST partners with the Norwegian Agency of Development Cooperation (Norad) on public market mobilisation
Today we welcome the implementation of a UK-Norway strategic collaboration on MOBILIST, with Norwegian Agency of Development Cooperation (Norad) committing £3 million in the form of technical assistance grants to support MOBILIST competition participants.
With new funding from Norad, MOBILIST represents a joint effort of both the UK and Norway to support greater capital mobilisation in support of the Global Goals and climate transition across developing countries.
A flagship UK government programme, MOBILIST supports investment solutions that help deliver the Global Goals for Sustainable Development and the climate transition. With capital from the UK and Norwegian governments, MOBILIST provides research, convenes policy discussions and offers technical assistance to enable new listed products – with development impact – come to market. MOBILIST has invested seed capital in ThomasLloyd Energy Impact Trust, an Asia renewable energy-focused trust successfully listed on the London Stock Exchange in 2021 and the Helios Investment Partners and InfraCo Africa’s Climate Energy Access Resilience (CLEAR) Fund, to develop sustainable, climate-aligned companies and assets to accelerate decarbonisation and build climate resilience in Africa.
Minister for Development, Andrew Mitchell welcomed the announcement: “Collaboration between bilateral donors and the private sector is critical to directing investment towards sustainable development and the climate transition in emerging and frontier markets. The FCDO’s MOBILIST partnership with Norad demonstrates our joint commitment to enabling new innovative ways of financing development goals through British Investment Partnerships, working with financial institutions operating across Africa, South and Southeast Asia and Latin America.”
Norway’s Minister of International Development Anne Beathe Tvinnereim, said: “Strong global partnerships between the public and private sectors are pivotal to closing the SDG financing gap. We must use development assistance in a more catalytic manner to unlock this potential. Norway is therefore pleased to partner with the FCDO on the MOBILIST programme. It demonstrates that capital markets can be a force of change to accelerate the accomplishment of our shared goals.”
Notes to editor
A flagship UK government programme, MOBILIST supports investment solutions that help deliver the climate transition and the United Nation’s Global Goals in developing economies. MOBILIST focuses on mobilising institutional capital to spur new scalable and replicable financial products. MOBILIST invests capital, delivers technical assistance, conducts research and builds partnerships to catalyse investment in new listed products. For more information about the MOBILIST programme use the following link here.
About the Foreign Commonwealth & Development Office
The Foreign, Commonwealth & Development Office (FCDO) pursues the UK’s national interests and projects the UK as a force for good in the world. We promote the interests of British citizens, safeguard the UK’s security, defend our values, reduce poverty and tackle global challenges with our international partners. For more information on the FCDO use the following link here.
Norad is the Norwegian agency for development cooperation. Norad is working to help the world achieve the UN’s Sustainable Development Goals (SDGs). Together with its partners and on behalf of Norway, Norad is working for a greener future in a world without poverty. Human rights must be respected and no one must be left behind. Through knowledge and cooperation, Norad ensures that Norwegian development assistance contributes to global development. For more information about Norad use the following link here.
Tara Sabre Collier
Team Leader, MOBILIST Research and Policy Platform