The Nordic countries have traditionally been praised for their generous and advanced development assistance. The “Nordic Model” has i.a. included a large share of multilateral assistance, a focus on low-income countries and a large share of grant aid. Their emphasis on democracy, gender, environment and human rights has also been applauded. In recent years, this idyllic picture has been challenged. It has been claimed that the Nordic model has faded: that the Nordic donors have become more similar to other European donors but also that their development policies have taken off in different directions, at least to a certain extent and in some respects. One possible reason for such trends that has been raised is pressures or indirect influences from EU policies, that is, Europeanization. This article critically evaluates such claims by presenting arguments for and against Europeanization effects, with a focus on aid streams, objectives, values and practices.