
Risk capital for Nordic green solutions
We finance and implement small and medium-sized green projects on global markets 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.
Does your project meet the criteria?

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 grants to Nordic small and medium-sized enterprises (SMEs) for green projects in global markets. We also provide environmental expertise and high additionality to your financing.
Municipal sector in Eastern Europe
Municipalities and utility companies in Eastern Partnership countries; Ukraine, Moldova, Armenia, Georgia 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.
Region-specific projects
In the Baltic Sea area, we finance both public and private projects related to agriculture, waste and wastewater treatment. Additionally, we manage two results-based financing incentives for off-grid energy providers and clean cooking providers in Africa.
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, Estonia, Georgia, Latvia, Lithuania, Moldova, and Ukraine can apply.
Financing options
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, we leverage and make projects feasible and bankable.
- Loans and equity-type financing – up to EUR 5 million to Nordic SMEs and mid-caps for expansion and green projects carried out on global markets. Projects in the Nordic countries can be considered if they demonstrate a Nordic environmental technology or solution for future international scale-up
- Fast-track loan financing for Nordic SMEs’ internationalisation up to EUR 500,000
- Grants for internationalisation – up to EUR 50,000 to Nordic SMEs and mid-cap companies for feasibility studies to assess an international establishment or demonstration project/ pilot installation outside the EU/EFTA area
- Buyer credits – up to EUR 5 million for the delivery of environmentally sustainable products, machinery or services to Eastern Europe
- Loans up to 5 million blended with grants to public sector projects in the Eastern European region
- Soft loans – approx. EUR 100,000 to EUR 500,000 to municipal projects in Eastern Europe
- Grants, project support and results-based financing through a number of trust funds
Key figures

€534m
Funds managed by Nefco at the end of 2021

15
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

306,918
Children and teachers benefitting from our municipality projects in Ukraine