The Barents Region is the land along the coast of the Barents Sea, from Norway to Russia. The Barents Region borders the Nordic countries Norway, Sweden and Finland.
In 2003, NEFCO and the Arctic Monitoring and Assessment Programme (AMAP) mapped out 42 environmental so-called “hot spots”, in the Barents Region, environmental problem areas which require specific measures of protection and action are taken.
The Barents Hot Spots Facility (BHSF) finances technical assistance to address these environmental problems. The support is typically related to the financing of key pre-feasibility and feasibility studies, business and financing plans, or environmental impact assessments. BHSF is not primarily a source for financing of actual project implementation, but for project preparation.
NEFCO is working on improving the environmental hot spots in the Barents together with the Barents Euro-Arctic Council (BEAC), which is a forum for intergovernmental cooperation on issues of general concern within the Barents Region.
The Barents Hot Spots Facility is funded by Finland, Iceland, Norway, Sweden and the Nordic Environmental Development Fund, which include contributions from all Nordic countries, the Nordic Council of Ministers and NEFCO. The facility is managed by NEFCO.
Both public and private entities located in the Nordic countries and in the Russian Barents Region that have a project related to the development of the environmental hot spots defined in the NEFCO/AMAP report can apply for funding from the Facility.