Governing bodies

Nefco is an international financial institution established in 1990 by the five Nordic countries.

International financial institution

Nefco is an international financial institution (IFI) established in 1990 by the governments of Denmark, Finland, Iceland, Norway and Sweden. The structure of the Board of Directors and Control Committee reflects the ownership of Nefco.

Chart on Nefco's governing bodies

Board of Directors

The Board of Directors makes policy decisions concerning the operations of Nefco and approves the financing of investments proposed by Nefco’s Managing Director. The Board of Directors also approves the annual budget and is responsible for Nefco’s financial statements. The Board of Directors may delegate its powers to the Managing Director where appropriate. The Board of Directors consists of five members, each of whom has one alternate. The members and their alternates are appointed by the Nordic countries for a maximum term of six years at a time. The Board appoints a chair and a deputy chair from among the members for a period of one year. The positions of chair and deputy chair rotate among the Nordic countries.

Our board members and alternates


Carsten Møberg Larsen

Senior Policy Adviser
Danish Environmental Protection Agency


Jakob Anker Tvede

Chief Advisor
Ministry of Foreign Affairs, Denmark


Saija Vuola

Ministerial Adviser
Ministry of the Environment, Finland


Mikko Kivikoski

Deputy Director General, Ambassador
Ministry for Foreign Affairs, Finland


Danfríður Skarphéðinsdóttir

Senior Adviser
Ministry for the Environment and Natural Resources, Iceland


Helga Barðadóttir

Head of Division, Deputy Director, Department of Climate Action
Ministry for the Environment and Natural Resources, Iceland

Norway, Chair

Agnethe Dahl

Deputy Director General
Ministry of Climate and Environment, Norway


Stine Svarva

Senior Adviser
Ministry of Climate and Environment, Norway


Erik Kiesow

Senior Adviser
Ministry of the Environment, Sweden


Daniel Johansson Århem

Deputy Director
Ministry for Foreign Affairs, Sweden


A representative of the Nordic Investment Bank and the secretariat of the Nordic Council of Ministers may participate in the board meetings as observers without the right to vote.

Control Committee

The Control Committee is Nefco’s supervisory body. It ensures that Nefco’s operations are conducted in accordance with the Statutes of Nefco. The Control Committee is responsible for the audit of Nefco and submits its annual audit report to the Nordic Council of Ministers.

The Nordic Council appoints five Nordic parliamentarians to the Committee. The Chair of the Committee is appointed by the Nordic Council of Ministers. The Control Committee appoints two professional external auditors for the purpose of assisting the Committee in carrying out its work and responsibilities. One of the appointed professional auditors is from Nefco’s host country (Finland) and one from another Nordic country.

Managing Director

The Managing Director is appointed by the Board of Directors for a term of up to six years at a time. The Managing Director is responsible for the conduct of Nefco’s current operations and must follow the guidelines and instructions given by the Board of Directors. The Managing Director is assisted in his or her work by the Management Committee and different Investment Committees.

Trond Moe Managing Director
Norwegian, English, Ukrainian, Russian

Management Committee

The Management Committee is an advisory body to the Managing Director. The Vice Presidents, the General Counsel and the Managing Director form the Management Committee.

Tita Anttila General Counsel, Head of Legal and Project Administration
Finnish, Swedish, English, Russian
Ulf Bojö Vice President, Green Transition Eastern Europe
Swedish, English, Russian, Italian
Josefin Hoviniemi Vice President, Communications
Swedish, Finnish, English, Spanish, French
Mikael Reims Vice President, Origination
Swedish, Finnish, Norwegian, English
Ash Sharma Vice President, Green Transition Special Funds
English, Spanish, French
Thor Thorsteinsson Vice President, Green Transition Nordic SMEs
Icelandic, Swedish, English

Contact us

Marina Westerholm Executive Assistant to the Managing Director
Swedish, Finnish, English
Nelly Eriksson Senior Administrative Officer
Swedish, Finnish, English

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