[PDF] Financing projects benefiting the Baltic Sea

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

NEFCO provides results-based financing for green growth. ○ All projects financed by NEFCO need to demonstrate that they will benefit the ...

Source: https://irp.cdn-website.com/53007095/files/uploaded/3_ANysten_NEFCO.pdf

Funding Details

Funder: NEFCO (Nordic Environment Finance Corporation)
Funding Goal: To expedite implementation of the HELCOM Baltic Sea Action Plan by financing demonstration projects from public and private entities that benefit the ecological state of the Baltic Sea, with focus on biodiversity conservation and pollution prevention.
Funding Amount: Recent round (2025-2026): EUR 1.3 million total distributed among 8 projects (~EUR 160,000 average per project). Historical: approximately 40-74 projects funded since 2010 with 7x leverage on additional investments.
Deadline: April 18, 2025 (most recent call) (Rolling)
How to Apply: Periodic calls for proposals are issued. Interested applicants should contact bsapfund@nefco.int for current call details and submission requirements. The fund is managed by NEFCO's Special Funds department under Dennis Hamro-Drotz.
Target Region: Baltic Sea region (8 HELCOM member countries)
Contact: BSAP Fund: bsapfund@nefco.int | Dennis Hamro-Drotz, Acting Head of Department, Special Funds: +358 10 6180 607, dennis.hamro-drotz@nefco.int | NEFCO general: info@nefco.int, +358 10 618 003, Fabianinkatu 34, FI-00171 Helsinki, Finland
Official Page: https://www.nefco.int/financing/other-regions/baltic-sea-action-plan-fund/
Last Checked: 2026-03-12 06:14

Application Checklist

Eligibility

Project must be located in one of the 8 Baltic Sea HELCOM countries
Applicant can be a private or public sector entity
Project must demonstrate positive environmental impact on the Baltic Sea ecosystem

Project Scope

Projects should address biodiversity conservation, pollution prevention, or eutrophication reduction
Cross-boundary projects across Baltic Sea countries are eligible

Required Documents

Contact bsapfund@nefco.int for application details and proposal submission requirements

Constraints

Submit proposal during open call for proposals period (most recent deadline: April 18, 2025)

Summary

The Baltic Sea Action Plan (BSAP) Fund is an early-stage financing mechanism managed jointly by NEFCO and NIB (Nordic Investment Bank) since 2010. It is dedicated to expediting the implementation of the HELCOM Baltic Sea Action Plan, which was adopted in 2007 by nine member nations to restore the good ecological status of the Baltic marine environment. The fund finances private and public sector projects across eight Baltic Sea countries, including cross-boundary projects. Approximately 80% of funded initiatives address biodiversity conservation or pollution prevention. Common project areas include nutrient recycling, manure management, wastewater treatment, sanitation plants, biogas production, deepwater oxygenation, agricultural best practices, and alternative fuels. The fund has financed 74 projects through end of 2023, and in its most recent 2025 round allocated EUR 1.3 million across eight new projects. NEFCO itself is an International Financial Institution established by the Nordic Governments in 1990, managing approximately EUR 460 million in accumulated funds. The BSAP Fund operates as a grant mechanism within NEFCO's Special Funds department. Projects funded through the BSAP Fund have historically leveraged 7x additional investments, demonstrating strong catalytic impact. The fund actively welcomes new donors and runs periodic calls for proposals.

Historical Context

The BSAP Fund has been operational since 2010, managed jointly by NIB and NEFCO. It has financed 74 projects through end of 2023. The underlying HELCOM Baltic Sea Action Plan was adopted in 2007 by nine member nations. NEFCO itself was established by Nordic governments in 1990 and manages approximately EUR 460 million in accumulated funds. The fund runs periodic calls for proposals and the most recent round (2025) allocated EUR 1.3 million across 8 new projects.

Sources

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