Byggðastofnun // The Icelandic regional development institute is an independent state-owned agency and comes under the ultimate authority of the Minister of Transport and Local Government. The function of Byggðastofnun is to promote rural settlement and economic activity, with special emphasis on the creation of equal opportunities for all inhabitants to employment and habitation. In accordance with its function Byggðastofnun prepares, organizes and funds projects and provides loans with the aim of bolstering regional settlement, boosting employment and encouraging innovation in business and industry. The financing of projects shall, where appropriate, be in collaboration with others. Byggðastofnun organizes and contributes to consultancy services in co-operation with economic development agencies, local authorities, and other interested parties. Byggðastofnun monitors regional settlement trends in Iceland, through among other means research and the collection of data. Byggðastofnun may draw up or have drawn up plans for regional development and economic activity with the aim of supporting settlement and employment in the country’s non-metropolitan areas.