Finland. Nordic Environment Finance Corporation (NEFCO)
| Date of agreement: | 26 Nov 2019 |
|---|---|
| Country: | Finland |
| Customer: | Nordic Environment Finance Corporation (NEFCO) |
| Amount in EUR: | EUR 25 million |
| Maturity: | 15 years |
| NACE sector / loan type: | Loan programme |
Project
The loan programme has been agreed with the Nordic Environment Finance Corporation (NEFCO) for on-lending to energy efficiency investments and renewable energy projects in non-member countries, primarily Ukraine.
Eligible investments include municipal energy efficiency projects and private sector renewable energy, such as wind and solar power investments that involve know-how from Nordic actors.
This is the second loan programme agreed between NEFCO and NIB. The first facility was signed in 2017 for financing the “Ukraine Higher Education Project – Energy Efficiency in Universities”.
NEFCO is an international financial institution owned by the Nordic countries Denmark, Finland, Iceland, Norway and Sweden. NEFCO exclusively finances environmental and climate-related projects of particular interest to the Nordic region, with focus on Eastern Europe.
Fulfilment of NIB's mandate
Projects considered for financing will be rated on a case-by-case basis.
Sustainability summary
All projects financed under the loan programme are required to comply with NEFCO’s mandate as well as NIB’s Sustainability Policy and Guidelines. NEFCO will submit allocation requests to NIB prior to each financing decision.
