The Credit Committee for the Nordic Project Fund (Nopef) has approved financing for eleven new projects. The total value of these grants is approx. EUR 352,000. Financing is granted for feasibility studies that explore, through Nordic companies, the possibilities of establishing operations internationally in the face of steadily growing competition.
Over the years, Nopef’s focus on project countries has shifted from financing feasibility studies in Eastern Europe to new developing economies such as the BRIC countries, i.e. Brazil, Russia, India and China. Today, the Nordic SMEs are investing to a larger extent in Africa, the Middle East and North America. This trend can also be seen among the newly approved projects, which include the following countries: the United Arab Emirates, the USA, Brazil, China and Belarus.
Nopef finances feasibility studies within green growth and cleantech. A wide range of sectors are represented among these new projects, including technology for the treatment of sludge and biowaste, construction of bioenergy plants, energy-efficient radiators, cleaning equipment for the oil industry, IT services for resource optimisation in the airline industry, sewer pipes for the water sector, ventilation systems, energy-friendly cooling and cold stores, and coated abrasive products for the wood industry.
Seventy-three feasibility studies with a total value of EUR 2.4 million in twenty project countries were granted financing during 2015. On average, these long-term investments in new project countries will create fourteen new jobs per project, of which two will be in the Nordic homeland and twelve in the project country, as the companies establish a local presence through, for example, subsidiaries or joint ventures.
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.