Danida, the Danish International Development Agency, has announced that Nigeria, Morocco, the Philippines and India will be able to apply for loans geared towards financing large infrastructure projects headed by Danish contractors.
The minister of trade and development, Mogens Jensen, said that the move would assist the four nations with improved knowledge, technology and solutions that will contribute to their economy and society in a sustainable way.
“It’s yet another example that development work not only helps develop, but opens the doors for Danish companies,” Jensen said in a press release.
“That development is something that we will now support, and Danida’s business instruments play an essential role.”
Danida’s loans can be used to cover interest expenses on loans from Danish banks for the financing of the local government’s financing of infrastructure projects.
This gives the developing nations very favourable loans and makes it easier for them to comply with their liability responsibilities.
Earlier this year, Jensen decided to continue Danida’s presence in Vietnam and Egypt.