The SADC-Development Finance Resource Centre (DFRC) represented by its CEO, Dr. Rosalind H. Thomas, and the NORSAD Agency represented by its CEO, Mr. Ole Simony, on 23rd March 2006 and on the occasion of the Board of Governors Meeting of NORSAD, signed a Memorandum of Understanding (MOU) to establish a partnership to address private sector development and strengthening in the SADC Region, at the Kgale Hill Offices of the SADC Secretariat.

The purpose of the MoU is to promote cooperation between NORSAD and SADC-DFRC to strengthen national Development Finance Institutions (DFIs) through sharing information and development and delivery of capacity building services to these institutions.

Through this process, it is expected that an expanded flow of financial resources will be made available to the DFIs to effectively meet the demands of their SME clients, and provide supporting services to them.