News

Ulf Bojö new Programme Manager for the Arctic Council Project Support Instrument (PSI)

Ulf Bojö, Senior Investment Manager at the Nordic Environment Finance Corporation (NEFCO) has been appointed as the new Programme Manager for the Arctic Council Project Support Instrument (PSI) as of 1 April 2019. PSI is a funding mechanism managed by NEFCO and available to projects initiated by all of the Arctic Council working groups. The objective of the instrument is to finance initiatives aimed at preventing and mitigating pollution of the Arctic Region.

Grant financing available for Baltic Sea related projects

Under the BSAP Fund grant financing can be awarded for projects in the Baltic Sea catchment area, in order to speed up the implementation of the HELCOM Baltic Sea Action Plan. Selected proposals may receive grant financing from EUR 30,000 to EUR 200,000 subject to certain co-financing requirements.

NEFCO and STR Tecoil invest in waste oil management in Russia

The Finnish oil re-refinery company STR Tecoil Oy is going to start collecting used lubricant oil in Russia for recycling. The company is financing its operations partly through a loan from NEFCO. At first, STR Tecoil will set up the collection system in St Petersburg and Leningrad region. The company then plans to eventually expand its operations to other regions. The collected waste oil will be sent to regeneration plants for the manufacture of new base oil products.