Risk capital for Nordic green solutions

We finance and implement small and medium-sized green projects outside the Nordic countries through our own investments on market terms, and trust funds with incentives and blending. We are ready to take financial risks, if there is a green upside.

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Financing options for various segments

Nordic small and medium-sized companies

We provide financing for economically viable green projects with positive environmental impact. Our financing options for the private sector include loans on market terms, equity-type financing and concessionary loans to Nordic small and medium-sized enterprises (SMEs) for green projects in global markets outside the Nordic countries. We also provide environmental expertise and high additionality to your financing.

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Municipal sector Eastern Europe

Municipalities and utility companies in Eastern Europe can apply for financing for environmental projects, such as energy-efficiency in public buildings, street lighting, district heating, solid waste, water and wastewater. Financing can consist of loans, soft loans in the local currency (for smaller projects), grants, technical assistance and implementation support. These are available in Russia, Belarus, Ukraine, Moldova, Georgia and Armenia.

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Region-specific projects

In the Arctic and Barents regions, we offer grant financing for project preparation activities, feasibility studies and demonstration projects related to emission and pollution reduction, and enhanced biodiversity. In the Baltic Sea area, we finance both public and private projects related to agriculture, waste and wastewater treatment. Additionally, we manage a results-based financing incentive for off-grid energy providers in Africa.

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Financial institutions

We offer on-lending facilities to local banks in Eastern Europe, where Nefco has a host country framework agreement, for green loan programmes to consumers and SMEs. The banks should be committed to a green profile and environmental goals. Financing can take the form of loans or subordinated loans. Banks in Armenia, Belarus, Estonia, Georgia, Latvia, Lithuania, Moldova, Poland, Russia and Ukraine can apply.

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Various financing options to suit different needs

We offer a range of instruments to private and public, small and medium-sized projects that seek to generate positive environmental or climate-related results. By combining different financing sources available to us, we leverage and make projects feasible and bankable.

Key figures


Funds managed by Nefco at the end of 2020


New wind and solar parks built in Ukraine with co-financing from Nefco

Over 400

Number of public buildings renovated in Ukraine for energy efficiency


Children and teachers benefitting from our municipality projects in Ukraine

Some of our implemented projects

Want to know more about available financing?

Contact us to apply or to get further information