Financed projects | Nefco

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

This index provides information on projects financed by and through Nefco since its establishment in 1990. The index is updated twice a year.

Source: https://www.nefco.int/financed-projects/

Funding Details

Funder: Nefco – Nordic Environment Finance Corporation
Funding Goal: Accelerating the green transition by financing small and medium-sized environmental and climate-focused projects, with emphasis on scaling Nordic solutions to global markets.
Funding Amount: Loans typically EUR 2–5 million (larger amounts possible); Nopef feasibility study support up to EUR 50,000 (conditional loan convertible to grant) (50.000 € – 5.000.000 €)
How to Apply: Multi-stage investment cycle: (1) Initial contact with Nefco specialists, (2) Financing proposal and business plan submission with preliminary environmental review, (3) Pipeline entry with full financial analysis, risk assessment, and compliance due diligence, (4) Board clearance in principle and financing terms preparation, (5) Final board approval and loan agreement execution, (6) Implementation with project monitoring and environmental performance reporting.
Target Region: Nordic countries (Denmark, Sweden, Finland, Norway, Iceland), Eastern Europe (Ukraine, Moldova, Georgia), Sub-Saharan Africa
Contact: Nefco, Fabianinkatu 34, P.O. Box 241, FI-00171 Helsinki, Finland. Phone: +358 10 618 003. Email: info@nefco.int
Last Checked: 2026-03-12 05:55

Application Checklist

Eligibility

Applicant must be a Nordic company (SME) with environmental or climate-positive solutions
Project must demonstrate positive environmental impact aligned with EU Taxonomy or Nefco's own criteria
Project must show technical and financial viability with scale-up potential for global markets

Project Scope

Eligible sectors: circular economy, energy efficiency, water/seas/oceans, manufacturing, transportation, food/agriculture

Required Documents

Financing proposal and business plan required for submission

Constraints

Loan financing typically ranges EUR 2–5 million; feasibility studies up to EUR 50,000
Environmental and social risk assessment must be addressed
Post-investment monitoring and environmental performance reporting required

Summary

Nefco (the Nordic Green Bank) is an international financial institution owned by the Nordic countries, established in 1990. It finances small and medium-sized green projects with a focus on scaling Nordic environmental solutions to global markets. Since inception, Nefco has financed over 1,800 green projects, with 324 ongoing investments and €77.9 million disbursed in 2025 alone. Approximately 80% of its investments meet EU Taxonomy eligibility standards. Nefco offers diverse financing instruments including loans (typically EUR 2–5 million for Nordic SMEs), blended financing combining loans and grants for public sector projects in Eastern Europe (Ukraine, Moldova, Georgia), feasibility study support through Nopef (conditional loans up to EUR 50,000), results-based financing for clean energy in Africa, and grant programs such as the Baltic Sea Action Plan Fund. Eligible sectors include circular economy, energy and efficiency, food/agriculture/forestry, manufacturing and materials, transportation/e-mobility, and water/seas/oceans. The primary target applicants are Nordic companies (SMEs) with environmentally positive solutions seeking international expansion. Projects must demonstrate environmental sustainability aligned with the green transition, technical and financial viability, technology scale-up potential, and adequate risk mitigation. The application process involves a multi-stage investment cycle from initial contact through board approval and implementation monitoring. The "Financed Projects" page itself is a portfolio index updated twice a year, listing all projects financed by and through Nefco since 1990, spanning Nordic countries, Ukraine, Uganda, Kenya, and the Democratic Republic of Congo. Funding partners include the Nordic Council of Ministers, Sweden, Norway, and the European Union.

Historical Context

Nefco was established in 1990 and has financed over 1,800 green projects since then. The financed projects index is updated twice a year. As of end of 2025, Nefco has 324 ongoing investments and disbursed €77.9 million in 2025. It is one of three Nordic international financial institutions.

Sources

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