NEFCO is an international financial institution established by the five Nordic countries. NEFCO finances green growth investments and projects primarily in Russia, Ukraine, Belarus, Georgia, Estonia, Latvia, Lithuania and Poland as well as climate projects across the world. NEFCO's main focus is to generate positive environmental effects of interest to the Nordic region.

Topic issue

The nauseating stench of rotting food scraps is unmistakable – and the gulls have come to the same conclusion as they swoop around us in large flocks in search of easily-caught food. “One man's meat is another man's poison” as the saying goes. We are at the landfill
site outside Vitebsk in north east Belarus. Project Manager Jesper Nyqvist from the  Swedish company Vireo Energy is showing us round to demonstrate how they produce electricity from rubbish.

upcoming events


The Swedish Environmental Research Institute IVL is hosting a seminar on the Baltic Sea 8 October in Stockholm. Senior Adviser Anja Nystén from NEFCO will attend the event.


The first meeting for Senior Arctic Officials of the second U.S. Chairmanship of the Arctic Council will be held in Anchorage, U.S.A. 20-22 October.


Cleantech Venture Day is the biggest cleantech investor event in the Nordics. Last year CVD represented 161 companies from 11 countries pitching for an international audience of investors and experts.


The 67th Nordic Council will convene in Reykjavik, Iceland 27-29 October 2015. NEFCO's Managing Director Magnus Rystedt and Communications Officer Lia Oker-Blom will attend the event.


The 7th Baltic Energy Summit will convene in Vilnius, Lithuania 25-26 November. This year's summit will focus on gas supplies and the emerging LNG market.


NEFCO's Board of Directors will convene in Helsinki 10 December 2015.


The Swedish Environmental Protection Agency is 14-15 December hosting a seminar on pollution caused by pharmaceuticals in the Baltic Sea region. The seminar will be attended by Senior Adviser Anja Nystén from NEFCO.


A NEFCO-financed wind farm in Paldiski, Estonia. Photo: Patrik RastenbergerA NEFCO-financed wind farm in Paldiski, Estonia. Photo: Patrik Rastenberger

23.9.2015 |

NEFCO will restart its investment operations in Poland, Estonia, Latvia and Lithuania. This was decided at NEFCO’s board meeting today in the Belarusian capital Minsk. The decision will enable NEFCO to provide loan financing from its Investment Fund for environmental projects in the private sector in the countries concerned with immediate effect.

District heating pipes in Ukraine. Photo: Patrik RastenbergerDistrict heating pipes in Ukraine. Photo: Patrik Rastenberger

3.9.2015 |

The DemoUkrainaDH funding programme has launched its third Call for Applications for demonstration projects in the district heating sector in Ukraine.  The programme offers publicly-owned companies in Ukraine the opportunity to apply for funding for the development of projects aimed at modernising district heating systems.

Halychyna Zahid invests in energy efficiency at it's pig farm in Kavske, Ukraine. Photo: Patrik RastenbergerHalychyna Zahid invests in energy efficiency at it's pig farm in Kavske, Ukraine. Photo: Patrik Rastenberger

28.8.2015 |

NEFCO and the agricultural company Halychyna Zahid LLC have signed a loan agreement aimed at improving the current system for handling pig slurry generated at the company’s farm in Kavske, Ukraine.