A NEFCO-financed wind farm in Paldiski, Estonia. Photo: Patrik Rastenberger

NEFCO will restart its investment operations in Poland, Estonia, Latvia and Lithuania. This was decided at NEFCO’s board meeting today in the Belarusian capital Minsk. The decision will enable NEFCO to provide loan and equity financing from its Investment Fund for environmental projects in the private sector in the countries concerned with immediate effect.

NEFCO has solid experience from environmental investments in Poland and the Baltic countries from the 1990’s.

Apart from updating the geographic mandate, NEFCO’s Board of Directors is, in close co-operation with NEFCO’s management, preparing a new strategy for the corporation in order to boost Nordic investments in green growth and climate mitigation.

The current difficult economic situation in NEFCO’s two main countries of operation, namely Russia and Ukraine, has triggered a comprehensive discussion on the geographic focus of NEFCO’s activities in the future. The conclusion of this discussion is that the core of NEFCO’s investment activities will also in the future be focused on the Baltic Sea, Barents and the Arctic regions. Moreover, NEFCO will maintain a strong presence in Russia, Ukraine and Belarus.

Today’s decision is, however, an attempt to explore new ground in Eastern Europe by providing loan capital and equity for relevant green growth investments of interest to the owner countries Denmark, Finland, Iceland, Norway and Sweden.