The expected investments by the funded SMEs is approx. EUR 55.8 million. Photo: Shutterstock

Nopef will finance seven new feasibility studies. With these it has approved funding for over EUR 1 million to Nordic small and medium-sized enterprises for their internationalisation during 2016.

The Credit Committee has approved financing to these new projects for a total value of approx. EUR 217, 000. If long-term operations will be set-up in the project countries it will result in total investments of EUR 9.35 million. The feasibility studies concern investments in projects carried out in China, Iran, Kazakhstan and the USA.

Nopef finances feasibility studies within green growth for, for example, projects and investments that contribute to energy efficiency, reduced use of resources and development of sustainable energy and innovations. A wide range of sectors are represented by these new projects, including environmentally sound solutions for the agricultural sector, technical solutions for energy storage, IT solutions for energy efficiency, maintenance and service of air purifiers, consulting services for energy-efficient buildings as well as production of oat drinks.

Thirty-six projects with a total value of EUR 1.13 million have so far been granted funding this year. The aim of these studies, which are carried out on all continents, is to evaluate the feasibility of long-term investment in a new project country and establish a local presence, for example through a joint venture or subsidiary. The funded companies are expected to create total investments of EUR 55.8 million.

The Nordic Project Fund (Nopef) was established by the Nordic countries in 1982 and is today administered by NEFCO and financed by the Nordic Council of Ministers. To date, Nopef has provided over EUR 100 million in funding distributed over 2800 projects.

Check out the new Nopef website here

Read more about the application process here

Find out which projects received funding last year here