Case example: Energy-efficiency in public buildings

Improving energy-efficiency in day care centres, schools and hospitals, as well as district heating, are typical projects in the municipal sector that we can help to finance with loans and grants. Currently, we have refurbished over 400 public buildings in Ukraine, benefitting over 190,000 people, and more are on their way. Look at the video to learn more.

Improving energy security


Nefco can provide blended financing with loans and grants to municipalities in Eastern Europe to help them improve energy security and reach their emission targets.

We offer financing under this scheme to municipalities and utility companies in our core countries of operation in Eastern Europe. Typical projects relate to energy-efficiency measures in public buildings, district heating, wastewater management and solid waste management.

The maximum loan financing is normally EUR 5 million, provided together with dedicated grant funds. We also provide grant funding for technical assistance.

Who can apply for funding?

Municipalities and utility companies in Armenia, Moldova, Russia and Ukraine.

We prioritise projects that have a high demonstration value and where the provided solutions have substantial upscaling potential.

Nefco requires borrowers to meet reasonable financial criteria, but the primary focus is on the positive environmental impacts of the project. In addition to the environmental aspects, we always examine the technical feasibility and financial profitability of all financed projects.

How to apply?

See further guidelines on how we can finance municipalities. You may also contact our Investment Managers for further details.


Ulf Bojö

Vice President, Green Transition Eastern Europe

+358 10 6180 637
Swedish, English, Russian, Italian

Vitaly Artyushchenko

Chief Investment Adviser, Consultant, Russia

+7 911 980 1723
Russian, English, Swedish

Sander Bredal

Investment Officer

+358 10 6180 654
Norwegian, English

Aliona Fomenco

Investment Manager

+358 10 6180 647
Romanian, Russian, English, Finnish

Henrik G. Forsström

Senior Adviser

+358 10 6180 638
Swedish, English, Russian, German, French, Polish

Ronny Nilsson

Senior Adviser, District Heating

+358 10 618 06 42
Swedish, English

Julia Shevchuk

Chief Investment Adviser, Ukraine

+380 50 358 3518
Ukrainian, Russian, English

Want to know more about available financing?