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<br /> ANNUAL REPORT 07<br /> I N V E S T M E N T S F O R D E V E L O P M E N T<br /> T H E I N D U S T R I A L I S A T I O N F U N D F O R D E V E L O P I N G C O U N T R I E S<br /> ANNUAL REPORT 2007<br /> Legal mandate<br /> ”For the purpose of promoting economic<br /> activity in developing countries, IFU has been created<br /> to promote investments in these countries in collaboration<br /> with Danish trade and industry.“<br /> The Act on International Development Cooperation,<br /> The Danish Parliament, 7 June 1967.<br /> IFU •<br /> Mission, vision & strategy<br /> Mission:<br /> To enhance global economic growth, development and more equitable<br /> income distribution through increased global flow of socially and environmentally<br /> responsible, productive investments making optimal use of comparative advantages.<br /> Vision:<br /> To contribute through information and advice in connection with co-<a title="IFUAarsrapport07 page 1" href="http://viewer.zmags.com/publication/a816c138?page=1"> ANNUAL REPORT 07 I N V E S T </a> <a title="IFUAarsrapport07 page 2" href="http://viewer.zmags.com/publication/a816c138?page=2"> ANNUAL REPORT 2007 Legal mandate ”For the purpo</a> <a title="IFUAarsrapport07 page 3" href="http://viewer.zmags.com/publication/a816c138?page=3"> IFU • M</a> <a title="IFUAarsrapport07 page 4" href="http://viewer.zmags.com/publication/a816c138?page=4"> • STATEMENT Statement by t</a> <a title="IFUAarsrapport07 page 5" href="http://viewer.zmags.com/publication/a816c138?page=5"> AUDITORS’ REPORT • In</a> <a title="IFUAarsrapport07 page 6" href="http://viewer.zmags.com/publication/a816c138?page=6"> EXECUTIVE SUMMARY Executive summary •  new p</a> <a title="IFUAarsrapport07 page 7" href="http://viewer.zmags.com/publication/a816c138?page=7"> HIGHLIGHTS • Fin</a> <a title="IFUAarsrapport07 page 8" href="http://viewer.zmags.com/publication/a816c138?page=8"> MANAGEMENT’S REVIEW INVESTMENT S FOR DE VELOPM</a> <a title="IFUAarsrapport07 page 9" href="http://viewer.zmags.com/publication/a816c138?page=9"> Management’s review Main activities IFU generate</a> <a title="IFUAarsrapport07 page 10" href="http://viewer.zmags.com/publication/a816c138?page=10"> MANAGEMENT’S REVIEW IFU continuously strives to </a> <a title="IFUAarsrapport07 page 11" href="http://viewer.zmags.com/publication/a816c138?page=11"> I N V E S T M E N T S F O R D E V E L O P M E</a> <a title="IFUAarsrapport07 page 12" href="http://viewer.zmags.com/publication/a816c138?page=12"> I N V E S T M E N T S F O R D E V E L O P M E</a> <a title="IFUAarsrapport07 page 13" href="http://viewer.zmags.com/publication/a816c138?page=13"> I N V E S T M E N T S F O R D E V E L O P M E</a> <a title="IFUAarsrapport07 page 14" href="http://viewer.zmags.com/publication/a816c138?page=14"> I N V E S T M E N T S F O R D E V E L O P M E</a> <a title="IFUAarsrapport07 page 15" href="http://viewer.zmags.com/publication/a816c138?page=15"> I N V E S T M E N T S F O R D E V E L O P M E</a> <a title="IFUAarsrapport07 page 16" href="http://viewer.zmags.com/publication/a816c138?page=16"> I N V E S T M E N T S F O R D E V E L O P M E</a> <a title="IFUAarsrapport07 page 17" href="http://viewer.zmags.com/publication/a816c138?page=17"> I N V E S T M E N T S F O R D E V E L O P M E</a> <a title="IFUAarsrapport07 page 18" href="http://viewer.zmags.com/publication/a816c138?page=18"> Courses in inter-cultural competence IFU has ente</a> <a title="IFUAarsrapport07 page 19" href="http://viewer.zmags.com/publication/a816c138?page=19"> I N V E S T M E N T S F O R D E V E L O P M E</a> <a title="IFUAarsrapport07 page 20" href="http://viewer.zmags.com/publication/a816c138?page=20"> MANAGEMENT’S REVIEW Project loans contributed DK</a> <a title="IFUAarsrapport07 page 21" href="http://viewer.zmags.com/publication/a816c138?page=21"> I N V E S T M E N T S F O R D E V E L O P M E</a> <a title="IFUAarsrapport07 page 22" href="http://viewer.zmags.com/publication/a816c138?page=22"> ACCOUNTING POLICIES INVESTMENT S FOR DE VELOPM</a> <a title="IFUAarsrapport07 page 23" href="http://viewer.zmags.com/publication/a816c138?page=23"> ACCOUNTING POLICIES </a> <a title="IFUAarsrapport07 page 24" href="http://viewer.zmags.com/publication/a816c138?page=24"> Income statement ACCOUNTING POLICIES Contributi</a> <a title="IFUAarsrapport07 page 25" href="http://viewer.zmags.com/publication/a816c138?page=25"> I N V E S T M E N T S F O R D E V E L O P M E</a> <a title="IFUAarsrapport07 page 26" href="http://viewer.zmags.com/publication/a816c138?page=26"> projects in liquidation” under “Other receivables</a> <a title="IFUAarsrapport07 page 27" href="http://viewer.zmags.com/publication/a816c138?page=27"> Income statement 2007 NOTE </a> <a title="IFUAarsrapport07 page 28" href="http://viewer.zmags.com/publication/a816c138?page=28"> Balance sheet at 31 December Assets 2007 2006 B</a> <a title="IFUAarsrapport07 page 29" href="http://viewer.zmags.com/publication/a816c138?page=29"> Balance sheet at 31 December Liabilities and equi</a> <a title="IFUAarsrapport07 page 30" href="http://viewer.zmags.com/publication/a816c138?page=30"> Cash flow statement 2007 2006 CASH FLOW STATE</a> <a title="IFUAarsrapport07 page 31" href="http://viewer.zmags.com/publication/a816c138?page=31"> Notes 2007 2006 NOTES </a> <a title="IFUAarsrapport07 page 32" href="http://viewer.zmags.com/publication/a816c138?page=32"> Notes 2007 2006 NOTE </a> <a title="IFUAarsrapport07 page 33" href="http://viewer.zmags.com/publication/a816c138?page=33"> Notes 2007 2006 NOTE </a> <a title="IFUAarsrapport07 page 34" href="http://viewer.zmags.com/publication/a816c138?page=34"> Notes 2007 2006 NOTE </a> <a title="IFUAarsrapport07 page 35" href="http://viewer.zmags.com/publication/a816c138?page=35"> Notes 2007 2006 NOTE </a> <a title="IFUAarsrapport07 page 36" href="http://viewer.zmags.com/publication/a816c138?page=36"> Notes 2007 2006 NOTE </a> <a title="IFUAarsrapport07 page 37" href="http://viewer.zmags.com/publication/a816c138?page=37"> Notes 2007 2006 NOTE </a> <a title="IFUAarsrapport07 page 38" href="http://viewer.zmags.com/publication/a816c138?page=38"> Notes 2007 2006 NOTE </a> <a title="IFUAarsrapport07 page 39" href="http://viewer.zmags.com/publication/a816c138?page=39"> Notes 2007 2006 NOTE </a> <a title="IFUAarsrapport07 page 40" href="http://viewer.zmags.com/publication/a816c138?page=40"> CSR 2007 INVESTMENT S FOR DE VELOPMENT |</a> <a title="IFUAarsrapport07 page 41" href="http://viewer.zmags.com/publication/a816c138?page=41"> CSR • Com</a> <a title="IFUAarsrapport07 page 42" href="http://viewer.zmags.com/publication/a816c138?page=42"> MANAGEMENT INVESTMENT S FOR DE VELOPMENT </a> <a title="IFUAarsrapport07 page 43" href="http://viewer.zmags.com/publication/a816c138?page=43"> MANAGEMENT </a> <a title="IFUAarsrapport07 page 44" href="http://viewer.zmags.com/publication/a816c138?page=44"> I N V E S T M E N T S F O R D E V E L O P M E</a> <a title="IFUAarsrapport07 page 45" href="http://viewer.zmags.com/publication/a816c138?page=45"> I N V E S T M E N T S F O R D E V E L O P M E</a> <a title="IFUAarsrapport07 page 46" href="http://viewer.zmags.com/publication/a816c138?page=46"> Executive Board Communications HRD Fin</a> <a title="IFUAarsrapport07 page 47" href="http://viewer.zmags.com/publication/a816c138?page=47"> IFU Offices (Reporting to IMD) BEIJ</a> <a title="IFUAarsrapport07 page 48" href="http://viewer.zmags.com/publication/a816c138?page=48"> DANISH INTERNATIONAL INVESTMENT FUNDS Danish Int</a> <a title="IFUAarsrapport07 page 49" href="http://viewer.zmags.com/publication/a816c138?page=49"> Offices DANISH INTERNATIONAL INVESTMENT FUNDS H</a> <a title="IFUAarsrapport07 page 50" href="http://viewer.zmags.com/publication/a816c138?page=50"> THE INDUSTRIALISATION FUND FOR DEVELOPING COUNTRI</a>