The UK’s flagship public markets initiative, MOBILIST, has received a NOK 40 million (£2.9 million) boost from Norway.
The new funding, spread across three years, strengthens the UK–Norway partnership and aims to unlock greater private capital investment in emerging and developing economies.
Strengthening the UK–Norway Partnership
The additional support was announced at a signing ceremony hosted at Norad headquarters in Oslo. The event underscored the countries’ shared commitment to using public markets as a powerful but underutilised tool for mobilising finance in emerging economies.
British Ambassador to Norway Jan Thompson hailed the move as
“invaluable for increasing the impact MOBILIST has on businesses tackling climate and development challenges.”
Norad Director General Gunn Jorid Roset highlighted the role of public markets in bridging global capital with development needs, stressing the importance of enabling more investors to become active partners in solving urgent issues.
Expanding MOBILIST’s Reach
Created by the UK’s Foreign, Commonwealth & Development Office (FCDO), MOBILIST is the only development finance programme that focuses exclusively on public markets. It provides equity investment for IPOs and innovative listed products while funding research to drive market reforms.
Norway has been supporting the programme since 2022, having already provided NOK 34 million in technical assistance. With this new round of funding, MOBILIST is better placed to expand its portfolio of technical support projects and investment partnerships.
Driving Development Through Public Markets
Since its inception, MOBILIST has committed $141.5 million to eight investees and mobilised nearly $350 million in private finance. Its investments range from backing Citicore Renewable Energy Corporation’s IPO in the Philippines to co-investing with Norway in the Green Guarantee Company, the world’s first dedicated climate-focused guarantee company.
The programme has also supported technical projects such as:
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A handbook for Mexican SMEs on raising funding through listed debt
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A framework for investing in gender bonds in emerging markets
Selected MOBILIST Investments and Technical Assistance
| Project | Country | Focus Area | Outcome |
|---|---|---|---|
| Citicore Renewable IPO | Philippines | Clean energy | Boosted renewable energy financing |
| Green Guarantee Company | Global | Climate guarantees | First dedicated climate guarantee firm |
| Gender Bond Framework | Emerging markets | Gender finance | Strengthened inclusive investment practices |
| Pakistan Green Bond | Pakistan | Sustainable finance | First green bond on national exchange |
The EMDE Public Markets Coalition
Alongside the UK and Norway, MOBILIST is central to the new EMDE Public Markets Coalition, launched at the UN’s Fourth Financing for Development Conference earlier this year. The coalition is designed to provide multilateral banks, development finance institutions, and investors with a practical toolkit to channel more private capital into emerging markets.
With partners including the African Development Bank, the Asian Development Bank, and the OECD, the coalition reflects growing international recognition of public markets as a lever for sustainable finance.
Norwegian Commitment to Development Finance
For Norway, extending support to MOBILIST underscores its belief in the transformative power of capital markets.
“In strategic partnership with the UK, we are bridging development finance and global capital markets,” said Roset.
This collaboration is intended to enhance the flow of capital to sectors critical for meeting the UN Sustainable Development Goals.
Looking Ahead
The fresh funding will allow MOBILIST to expand its technical assistance offerings, guiding more companies through the complex journey to market listings. By doing so, it aims to improve access to finance for businesses in emerging economies, particularly those driving climate action and inclusive growth.
The initiative also positions the UK and Norway as leaders in rethinking how public markets can deliver real development impact at scale.
In Conclusion
The UK’s MOBILIST programme, with new backing from Norway, is well-positioned to drive innovative finance solutions across emerging economies. As global partners rally behind public markets, this collaboration highlights the growing role of cross-border alliances in shaping sustainable development finance.
Sources: UK Foreign, Commonwealth & Development Office (FCDO), Norwegian Agency for Development Cooperation (Norad) and British Embassy Oslo.
Prepared by Ivan Alexander Golden, Founder of THX News™, an independent news organization delivering timely insights from global official sources. Combines AI-analyzed research with human-edited accuracy and context.
