1. NORDIC ENVIRONMENT FINANCE CORPORATION Henrik G Forsström Senior Adviser

2. All Projects All in all ca. 250 projects 1990 to 2006 Increasing focus on Ukraine and Russia Continuation in the Baltics to be evaluated in 2007/08

3. Water and Wastewater Ca. 50 projects Variations due to country policies Expected increases in Ukraine and Russia

4. Revolving Facilities Cleaner Production Agriculture Energy efficiency

5. Environment Water Air GHG ODS POPs Heavy metals Arctic

6. Resource Base PSI INVESTMENT FUND 113,4 MEUR NMF 370 MDKK EXTERNAL 40 MEUR (+23 MEUR avsl.) TGF 35 MEUR BHSF 3 MEUR Municipal investments Private investments of Nordic Companies Sector Studies Revolving structures Technical Assistance for municipal investments Environmentally harmful substances Totally ca. €250 million LOANS MEZZA- NINE RISK CAPITAL SOFT LOANS COND. GRANTS PRIVATE PUBLIC LOCAL FUNDS PROJECT EMISSION RIGHTS First multilateral carbon credit fund outside WB Group comprising public and private investors

7. Continiuous dialogue Historically the external institution that has assigned most funds in custody NDEP NEFCO "bridge financing" structural fundsl in the Baltics EPE Co-operation Different partners: a) Nordic Countries b) EU c) Nordic Companies d) Financial institutions e) Local Authorities f) Local Companies Targets: a) Identify relevant environmental projects. b) Attract capital for environmental projects prior- itsed by the Nordic Countries NIB EBRD EIB Swedfund Finnfund IÖ Innovasjon Norge

8. Environment: Cost efficiency, around 15% of the Nordic costs Sustainability: Funds maintained Catalytical: Investment Fund amounts to 20 to 30% of total investments Short Summary

9. Investment Fund Investment Fund, Projects 2004

10. www.nefco.org