Finland

The Finland Ministry of Foreign Affairs is the main actor in development cooperation. The core goals of Finnish development policy are to eradicate extreme poverty and reduce poverty and inequality, together with climate change mitigation, adaptation, and disaster risk management and preparedness. The Finnish Fund for Industrial Development Cooperation Ltd. is a Finnish development finance company providing long-term risk capital for private sector projects in developing countries.

Finland has five priorities: (i) rights and status of women and girls; (ii) growth of developing countries’ economies to generate more jobs, livelihood opportunities, and well-being; (iii) democratic and better-functioning societies; (iv) food security, access to water and energy, and sustainable use of natural resources; and (v) education.

Finland supports Nepal and the Central Asia region, particularly the Kyrgyz Republic, Tajikistan, and Uzbekistan, to strengthen human rights, the rule of law, sustainable economic growth, water resource management, and climate change preparedness. Finland’s Ministry of Foreign Affairs published the Governmental Action Plan on China in 2021, focusing on environment and climate, food and natural resources, education, research and innovation, well-being and health, justice and security, culture, media, and sport.

Since 2019, Finland has sponsored staff to the Education Sector Group, providing valuable contributions.

Highlights of ADB–Finland Engagement in 2023:

Nonsovereign Cofinancing. The Trade and Supply Chain Finance Program (TSCFP) supported six transactions valued at $11.1 million with banks domiciled in Finland from inception to December 2023. During the same period, the TSCFP supported over 190 Finnish exports and/or imports valued at $249.6 million. In 2023 alone, the TSCFP supported three Finnish exports and/or imports valued at $4.5 million. Exports and/or imports were mainly to or from Bangladesh, Viet Nam, and Pakistan. Underlying goods involved mostly food and agriculture-related goods, technology and communications, as well as raw and non-energy commodities.

Special Funds. Finland is a founding member of ADB and has committed $231.2 million to ADB special funds since 1966. Of this commitment, $207.6 million has gone to the Asian Development Fund (ADF). The ADF provides grants to ADB’s low-income, developing member countries to help reduce poverty and improve quality of life.

Knowledge. In March 2023, ADB and Finland hosted a high-level roundtable discussion with education ministry officials from Bangladesh, Nepal, the Philippines, Sri Lanka, and Uzbekistan. The roundtable (i) presented the Finnish education system, current reforms, and policies focusing on improving teacher quality and teacher professional development; (ii) shared lessons and good practices of cooperation in education to improve teaching and learning; and (iii) identified possible areas of cooperation between ADB and Finland and agreed on the way forward.