Nordic Environment Finance Corporation (NEFCO) www.nefco.org NEFCO investment Fund. Priorities in financing. Projects and experience in Russia and Ukraine.

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Presentation transcript:

Nordic Environment Finance Corporation (NEFCO) NEFCO investment Fund. Priorities in financing. Projects and experience in Russia and Ukraine. MINSK December 2007

NEFCO is a multilateral financial institution established and funded by: Iceland, Norway, Denmark, Sweden and Finland.

Baltic Sea

NEFCO aims to improve the ecological situation in its countries of operation through investments in projects with positive ecological impact

NEFCO:s projects must generate ecological benefits cheaper than in the Nordic countries.

Finance Priorities The investment must be in our area of operation The project is viable and based on proven technology It delivers significant ecological benefits, both locally and in the region It is ecologically cost efficient It is of Nordic interest

LOANSMEZZANINE. RISK- CAPITAL ENTERPRISES and MUNICIPALITIES Business/Commercial Cleaner Production Energy Savings Special Purpose Facilities CO2 trading TGF Investment Fund (Market terms) Environmental Support Fund (Soft & depleting) Testing Ground Facility (Market terms)

Typical projects financed by NEFCO ordinary finance Modernisation of industrial production processes normally in existing plants - not green-field investments Production of equipment for pollution abatement Environmental services; waste management and water treatment Renewable energy investments and energy efficiency biomass, wind energy, geothermal, small scale hydro Ordinary Finance

Typical projects financed by NEFCO special purpose finance Energy efficiency and energy savings measures in industries Fuel switch from fossil fuel to renewable fuel and energy efficiency measures in boiler plants More efficient production technology in industries Energy savings measures in schools, hospitals etc Pump renewal projects in Vodokanals and DH systems Heat exchangers in DH systems Street lighting Special Purpose Finance

Summary of NEFCO:s activities Russia projects since ongoing, 48 in preparation 34 completed, 16 discontinued Ukraine - 46 projects since ongoing, 32 in preparation 1 completed, 1 discontinued

Summary of NEFCO:s activities pct.

Challenges JV companies (ordinary finance) –Differences in the way you do business –Differences in legislation and administrative procedures. –Business ethics –Communication

Challenges Special purpose finance –Loan security (budget code) –Communication –Transaction costs –Reporting and follow up

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