The international development agency ICEIDA, which is linked to the Ministry for Foreign Affairs, has received an ISK 229 million budget increase for 2006, from ISK 717 million last year to ISK 946 million. The grant allocation is made in US dollars, making the increase about 50% higher than that of 2004 as the krona is more valuable against the dollar today.
ICEIDA works on about one third of projects supported by the Ministry. Its projects extend to six countries: Malawi, Mozambique, Uganda, Namibia, Sri Lanka and, for the first time this year, Sri Lanka and Nicaragua.
