The Nordic Environment Finance Corporation (NEFCO) will restart its investment operations in Estonia, Latvia, Lithuania and Poland. NEFCO will provide loan financing from its Investment Fund for environmental projects in the private sector in the countries concerned with immediate effect.
The decision made by NEFCO's Board of Directors is an attempt to explore new ground in Eastern Europe by providing loan capital for relevant green growth investments of interest to the owner countries Denmark, Finland, Iceland, Norway and Sweden. Apart from updating the geographic mandate, NEFCO's Board of Directors is, in close co-operation with NEFCO's management, preparing a new strategy for the corporation in order to boost Nordic investments in green growth and climate mitigation.
The current difficult economic situation in NEFCO's two main countries of operation, namely Russia and Ukraine, has triggered a comprehensive discussion on the geographic focus of NEFCO's activities in the future. The conclusion of this discussion is that the core of NEFCO's investment activities will also in the future be focused on the Baltic Sea, Barents and the Arctic regions. Moreover, NEFCO will maintain a strong presence in Russia, Ukraine and Belarus.
NEFCO has solid experience from environmental investments in the Baltic countries and Poland from the 1990's.
