NEFCO signs framework cooperation agreement with China

The Nordic Environment Finance Corporation and Foreign Economic Cooperation Office of the Ministry of Environmental Protection of China have, today, together with the China Development Bank Corporation, signed a Framework Agreement to establish the Sino-Nordic Environmental Protection Cooperation (“SNEPCO”) Programme.

SNEPCO aims to promote cooperation between the Nordic countries and the People’s Republic of China in the field of financing environmentally sustainable projects in China, with assistance from the Ministry of Environmental Protection of China and Ministries of Environment of the five Nordic countries.

SNEPCO financing shall be extended to projects which promote mitigation of  greenhouse gases, phasing out of ozone depleting substances, reduction of persistent and toxic substances including heavy metals, promoting resource optimisation, cleaner production, energy efficiency and Clean Development Mechanism (CDM) investments of global and Chinese environmental interest.

NEFCO has been engaged in China since the mid-1990s and in climate change activities since 2008. The framework agreement signed today will enable NEFCO to substantially expand its financing operations in China.

For more information, please contact:

Yang Lirong, Division Chief, +86 10 82268899 Foreign Economic Cooperation Office of the Ministry of Environmental Protection of China
Jin Xianmin, Deputy Division Chief, +86 10 68306843, China Development Bank Corporation
Magnus Rystedt, Managing Director, NEFCO, +358 50 329 6224
Husamuddin Ahmadzai, Special Adviser, NEFCO, +358 50 520 0288
Mikael Sjövall, Communications Manager, NEFCO, +358 50 3535 045

Notes to editors:

The Nordic Environment Finance Corporation (NEFCO) is an international finance institution established by the Governments of the five Nordic countries Denmark, Finland, Iceland, Norway and Sweden. NEFCO finances environmentally-related projects mainly in Russia, Ukraine, Estonia, Latvia, Lithuania and Belarus. NEFCO has its head office at Fabianinkatu 34, 00100 Helsinki, Finland.
http://www.nefco.org/

MEP-FECO is the Foreign Economic Cooperation Office of the Ministry of Environmental Protection of China with its office at 5 Hou Yingfang Hutong, Xicheng District, Beijing, China.
http://en.mepfeco.org.cn/

China Development Bank Corporation (CDB) shareholders are the Ministry of Finance of China and Central Huijin Investment Ltd (Huijin). CDB is a leader in the implementation of the China’s macro-economic policies and channels funds to alleviate the bottlenecks of financing restraints and strengthen the weak links in China’s economy enabling a rational development of the economy and society. CDB’s mission includes promoting development of the market and providing of finance to sectors facing financial constraints such as SMEs, low-income-housing, health care and environmental protection. CDB is located at 29 Fuwaidajie, Xicheng District, Beijing, China.
http://www.cdb.com.cn