NEFCO Green Recovery Loan Programme

Enriched Nordic · Found: 2026-03-11 10:48

NEFCO provides fast-track loan and equity financing for Nordic SMEs offering innovative and sustainable solutions to environmental challenges. Active portfolio of 324 projects exceeding EUR 560 million. In 2022, 17% of portfolio and 40% of new grant financing supported circular solutions.

Source: https://nefco.int/news/nefco-finances-griffin-refineries

Funding Details

Funder

NEFCO – Nordic Green Bank

Funding Goal

Provide fast-track loan financing to Nordic SMEs offering innovative and sustainable solutions to environmental challenges, supporting their international growth and scale-up outside the Nordic countries.

Funding Amount

Not specified; loans and equity financing are provided on a case-by-case basis to Nordic SMEs.

How to Apply

Apply directly to NEFCO. The programme is described as fast-track financing. Prior engagement with NOPEF (Nordic Project Fund) for early-stage feasibility is mentioned as a pathway before applying for Green Recovery financing.

Target Region

Nordic countries (applicant base); international operations in EMEA, Eastern Europe, and other regions supported

Contact

Auli Nikkilä, Investment Officer: auli.nikkila@nefco.int, +358 40 736 5871. General: info@nefco.int, Tel: +358 10 618 003. Address: Fabianinkatu 34, P.O. Box 241, FI-00171 Helsinki, Finland.

Last Checked

2026-03-11 16:16

Application Checklist

Eligibility

• Applicant must be a Nordic SME (small or medium-sized enterprise) — non-profits and NGOs are not the target group
• Company must offer innovative and sustainable solutions to environmental challenges

Project Scope

• Financing must support investments or business activities for international growth outside the Nordic countries
• Eligible focus areas include circular economy, waste management, plastic recycling, organic waste treatment, and clean energy solutions

Required Documents

• Consider prior engagement with NOPEF (Nordic Project Fund) for early-stage market entry support before applying

Constraints

• This is a loan/equity instrument — repayment is required; not a grant programme
• No fixed deadline; applications evaluated on a rolling basis

Summary

NEFCO's Green Recovery Loan Programme offers fast-track loan and equity financing to Nordic small and medium-sized enterprises (SMEs) developing innovative, sustainable solutions to environmental challenges. The programme is designed to help eligible companies accelerate their international growth and scale operations beyond the Nordic region, covering investments and business activities in markets such as Europe, the Middle East, Africa, and elsewhere. The programme explicitly targets commercial SMEs — not NGOs or non-profits — and the financing takes the form of loans or equity, not grants. A case example is Griffin Refineries Oy (Finland), which received financing to expand its circular economy solutions — including plastic waste recycling, organic waste treatment, and refuse-derived fuel production — across EMEA countries and Georgia. As of the latest annual report (2025), NEFCO holds an active portfolio of 324 projects with a total value exceeding EUR 560 million, demonstrating ongoing programme activity. In 2022, 40% of new grant financing supported circular solutions, though the Green Recovery Loan Programme itself is a loan instrument. The programme complements NOPEF (Nordic Project Fund), which provides earlier-stage project support to Nordic companies expanding internationally. The programme is particularly relevant for Nordic for-profit companies working in circular economy, waste management, clean energy, and environmental services sectors seeking to scale internationally. NGOs and non-profit organisations are not the stated target group and would likely not be eligible for this instrument.

Historical Context

The article is from May 2022 and describes Griffin Refineries as a financing case. The 2025 annual report confirms an active portfolio of 324 projects exceeding EUR 560 million, indicating the programme is ongoing as of early 2026.

Why it was added

Nordic CE/plastic program for OPF

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