NEFCO was founded in 1990 as a multilateral financial institution by the Nordic countries. Since then, working in partnership with both private and public investors, its mission has been to promote cost-effective ways to reduce the environmental pollution emanating from regions adjacent to the Nordic countries.
To achieve the same environmental results on home soil, the estimated cost to the Nordic countries would have been 7-8 times higher.
NEFCO’s success has been based on close collaboration with major partners, including bilateral, multilateral and local financial institutions. NEFCO also works closely with competent and well-managed private companies, both local to the projects themselves and right across the Nordic region.
Since 1990, the organisation has acquired a deep understanding of the financial, legal and business environments of the countries in which it operates. As a result of this, NEFCO has been able to develop an extensive network of contacts and goodwill at local, regional and state governmental levels. Due to this NEFCO’s contribution to projects and investments is not limited to financial involvement and the provision of environmental expertise only.
NEFCO is currently active in Russia, Ukraine, Estonia, Latvia, Lithuania and may also participate in projects in Belarus.
NEFCO’s aim at all times is to facilitate the implementation of environmental projects in the countries in which the organisation operates. This is made possible by three key competencies: 1) local knowledge and presence; 2) environmental, financial and legal expertise; 3) a range of financial instruments specifically relevant to environmental projects.