A recent Norfund evaluation notes that increased investments in project development and improved coordination with Norwegian MFA, Norad and the Embassies have contributed to successful projects and up-scaling opportunities (Norad, 2015). Adaptation investments typically aim for saving on future costs of climate change, and this is not in line with thetypical investor's revenue creation objectives. It is therefore more difficult for investors to understand the business case compared with e.g. mitigation investments, where investments in new emission reducing technologies can be seen and demonstrated to have considerable return on investment potential.