Financing green growth

NEFCO finances green growth and climate-related projects. Our financing options include loans, grants, equity-type financing and buyer credits, depending on the scope and location of the project. By combining different financing sources available to us, we leverage and make projects feasible and bankable.

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Financing options for various segments

Nordic companies

We provide financing for economically viable green projects with positive environmental impact. Our financing options for the private sector include loans, equity-type financing and grants to Nordic small and medium-sized enterprises (SMEs) for green projects in global markets outside the Nordic countries. We also provide environmental expertise and high additionality to your financing.

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Financial institutions

We offer on-lending facilities to local banks in Eastern Europe, where NEFCO has a host country framework agreement, for green loan programmes to consumers and SMEs. The banks should be committed to a green profile and environmental focus. Financing can take the form of loans or subordinated loans. Banks in Armenia, Belarus, Estonia, Georgia, Latvia, Lithuania, Moldova, Poland, Russia and Ukraine can apply.

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Municipal sector

Municipalities and utility companies in Eastern Europe can apply for financing for environmental projects, such as energy-efficiency in public buildings, street lightning, district heating, solid waste, water and wastewater. Financing can consist of loans, soft loans in the local currency (for smaller projects), grants, technical assistance and implementation support. These are available in Russia, Belarus, Ukraine, Moldova, Georgia and Armenia.

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Region-specific projects

In the Arctic and Barents regions, we offer grant financing for project preparation activities, feasibility studies and demonstration projects related to emission and pollution reduction, and enhanced biodiversity. In the Baltic Sea area, we finance both public and private projects related to agriculture, waste and wastewater treatment. Additionally, we work with certified emission reduction projects and carbon credits in emerging markets.

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Various financing options to suit different needs

We offer a range of instruments to private and public, small and medium-sized projects that seek to generate positive environmental or climate-related results. By combining different financing sources available to us, we leverage and make projects feasible and bankable.

  • Loans and equity – up to EUR 5 million to public and private sector projects in the Eastern European region (Armenia, Belarus, Estonia, Georgia, Latvia, Lithuania, Moldova, Poland, Russia and Ukraine)
  • Loans and equity-type financing – up to EUR 2.5 million to Nordic SMEs and mid-caps for expansion and green projects carried out on global markets outside the Nordic countries
  • Green Recovery loan financing for Nordic SMEs’ internationalisation up to EUR 500,000
  • Buyer credits – up to EUR 5 million for the delivery of environmentally sustainable products, machinery or services to Eastern Europe
  • Soft loans – approx. EUR 100,000 to EUR 500,000 to public sector projects in Eastern Europe
  • Grants / project support – provided through a number of trust funds
  • Grants for internationalisation – up to EUR 50,000 to Nordic SMEs and mid-cap companies for feasibility studies, demonstration projects or pilot installations outside the EU/EFTA area

Key figures


Funds managed by NEFCO in 2019


New wind and solar parks built in Ukraine with co-financing from NEFCO

Over 400

Number of public buildings renovated in Ukraine for energy efficiency


Children and teachers benefitting from our municipality projects in Ukraine

Some of our implemented projects

Want to know more about available financing?

Contact us to apply or to get further information