Each year the Faroese Government allocates a certain amount of funds to development assistance. The Ministry of Foreign Affairs and Trade manages this area and grants the funds to organizations working to improve conditions in developing countries.
The main goal is sustainable development and to improve conditions and secure livelihoods beyond the duration of the individual projects. Strengthening Faroese development assistance is also a priority, and is done by funding projects that allow for active involvement by Faroese organizations, or other partners, that can provide professional or technical expertise or assistance.
Priorities are set in accordance with the UN Sustainable Development Goals.
The foundation of sustainable development is to provide the tools that can help people become self-sufficient, thus, highest priority is given to projects that focus on health, education and a sustainable supply of food. The Faroese are experts in sustainable fisheries and projects that utilize this expertise are also given priority.
Funding is restricted to projects or programmes that take place in countries that the OECD designates as developing countries, especially those that are least developed.
A full list of requirements can be found in Requirements and Priorities of the Faroese Government for Development Assistance.