Nefco - the Nordic Green Bank | Accelerating the green ...

Enriched Nordic · Found: 2026-03-11 08:07

We finance pioneering projects that support sustainable development in Sub-Saharan Africa, healthier marine environments and the development of carbon markets.

Source: https://www.nefco.int/

Funding Details

Funder

Nefco — Nordic Green Bank (Baltic Sea Action Plan Fund)

Funding Goal

Finance small and medium-sized demonstration projects that address key ecological challenges facing the Baltic Sea, including eutrophication, biodiversity conservation, pollution prevention, nutrient recycling, wastewater treatment, and marine litter. Also finances Nordic SMEs with green solutions and clean energy access in Sub-Saharan Africa.

Funding Amount

Early-stage financial support for project preparation and implementation; 7x additional leverage generated on average. Total EUR 1.3 million awarded to eight new projects in 2025 round.

Deadline

Annual, typically early in calendar year (2025 round awarded eight projects for 2026 start) (periodic)

How to Apply

Contact the BSAP Fund directly. Contact: Dennis Hamro-Drotz, Acting Head of Department, Special Funds. Email: bsapfund@nefco.int, Phone: +358 10 6180 607. See fact sheet at https://www.nefco.int/wp-content/uploads/2024/04/bsap-fund-fact-sheet_april-2024.pdf

Target Region

Baltic Sea region (8 countries: Denmark, Estonia, Finland, Germany, Latvia, Lithuania, Poland, Sweden); also Sub-Saharan Africa and Nordic countries for other programmes

Contact

Dennis Hamro-Drotz, Acting Head of Department, Special Funds. Phone: +358 10 6180 607. Email: bsapfund@nefco.int (BSAP Fund) or dennis.hamro-drotz@nefco.int

Official Page

https://www.nefco.int/financing/other-regions/baltic-sea-action-plan-fund/

Last Checked

2026-03-15 12:13

Application Checklist

Eligibility

• Applicant must be from a Baltic Sea region country (Denmark, Estonia, Finland, Germany, Latvia, Lithuania, Poland, or Sweden)
• Both private and public sector entities are eligible to apply

Project Scope

• Project must address a key Baltic Sea ecological challenge (eutrophication, biodiversity, pollution, marine litter, etc.)
• Project should have demonstration effect and potential for replicability and scalability
• Cross-boundary projects spanning multiple Baltic Sea countries are accepted and encouraged

Required Documents

• Project plan and budget documentation required — check BSAP Fund fact sheet for specifics

Constraints

• Funding is primarily early-stage / preparatory finance; own co-financing likely required

Summary

Nefco — the Nordic Green Bank — is a Nordic international financial institution established to accelerate the green transition. Among its several financing programmes, the Baltic Sea Action Plan (BSAP) Fund is the most relevant to marine conservation. The BSAP Fund was established in 2010 by Sweden and Finland to help implement the HELCOM Baltic Sea Action Plan, which was adopted in 2007 and updated in 2021 to restore the ecological status of the Baltic marine environment. Thematic scope of the BSAP Fund includes biodiversity conservation, eutrophication reduction, hazardous substances management, shipping pollution, fisheries sustainability, marine litter, pharmaceuticals, underwater noise, seabed disturbance, and nutrient recycling. Approximately 80% of funded projects address biodiversity conservation or pollution prevention. Historical project types include nutrient recycling systems, manure management, small-scale sanitation plants, wastewater treatment, alternative fuels, and harbour facilities for wastewater management. Eligible activities include project preparation, feasibility studies, demonstration pilots, testing of replicability and scalability, and implementation of concrete environmental improvement measures. The fund functions as an early-stage financing mechanism, enabling project teams to test solutions before scaling. Geographically, the BSAP Fund covers all 8 Baltic Sea countries: Denmark, Estonia, Finland, Germany, Latvia, Lithuania, Poland, and Sweden. Cross-boundary projects are explicitly welcomed. Other Nefco programmes cover Nordic SMEs (internationalisation), Eastern Europe (energy efficiency), and Sub-Saharan Africa (off-grid energy and clean cooking). Eligible applicants include both private and public sector organisations from the Baltic Sea region. The fund leverages an average of 7x additional investment per euro committed. In 2025, the fund received a record number of applications and awarded EUR 1.3 million to eight new projects commencing in 2026. Nefco also offers loan financing for Nordic SMEs with positive environmental or climate impact, targeting companies at various internationalisation stages. The wider portfolio includes the Beyond the Grid Fund for Africa (BGFA) and the Modern Cooking Facility for Africa (MCFA), both focused on energy access in Sub-Saharan Africa.

Historical Context

BSAP Fund established in 2010 by Sweden and Finland to support HELCOM Baltic Sea Action Plan implementation. Over 74 projects financed as of end 2023. Fund co-managed by Nordic Investment Bank (NIB) and Nefco. Also receives contributions from the Nordic Environmental Development Fund (NMF) backed by the Nordic Council of Ministers. Nefco overall has financed 1,800+ green projects since 1990.

Sources

• https://www.nefco.int/
• https://www.nefco.int/financing/
• https://www.nefco.int/financing/other-regions/
• https://www.nefco.int/financing/other-regions/baltic-sea-action-plan-fund/

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