Finland and NEFCO set up USD 6mln investment fund for green projects in Ukraine

Finland and NEFCO set up USD 6mln investment fund for green projects in Ukraine

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Finland and NEFCO set up USD 6mln investment fund for green projects in Ukraine

  • The fund will be providing for the energy efficiency projects and their technical assistance, as well as awarding development projects for demonstrations

The Nordic Environment Finance Corporation (NEFCO) and the Ministry of Foreign Affairs of Finland revealed plans to establish a trust fund worth USD 6mln in order to support the renewable energy projects in Ukraine, according to State Agency of Energy Efficiency and Energy Saving of Ukraine.

The fund will be coordinated by State Agency of Energy Efficiency and Energy Saving of Ukraine and NEFCO will provide financing. The funds will be channeled mainly into technical assistance for the energy efficient projects and staging of demonstrational samples at private small and medium sized enterprises as well as other state owned companies.

NEFCO corporation has provided financing for more than 150 projects in Ukraine during the last 7 years of operations, the official website reads. In NEFCO portfolio, there are projects in energy efficiency, renewable energy, and waste water treatment.

NEFCO is an international finance institution established by the five Nordic countries to finance green investment projects primarily in Eastern Europe.

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