The new agreement on NEFCO’s mandate that was signed by all five Nordic countries on 14 December 2016 enters into force today. At the same time, the Corporation’s amended statutes are officially adopted.
The Arctic Council Project Support Instrument (PSI) has approved two major projects aimed at reducing the release of short-lived climate pollutants from the oil and gas, and fisheries sectors.
NEFCO and the Russian LLC Novgorod Timber Company Sodruzhestvo have signed a loan agreement aimed at modernising wood processing production in Nebolichi in the Novgorod region in Russia. Sodruzhestvo will replace an existing sawing line with a new one that will increase production, improve the efficiency of wood processing and boost the company’s revenues.
The new Nordic-Russian programme for implementing environment and climate projects in North-West Russia has launched its first call for proposals.
NEFCO and the Belarusky Narodny Bank (BNB-bank) have today signed a loan agreement for the development of an electric vehicles facility. NEFCO will provide up to EUR 2.5 million to BNB-bank under the joint financing facility for a period of up to 5 years.
The Finnish John Nurminen Foundation will join forces with NEFCO to co-finance a biogas plant in Lviv, Ukraine. NEFCO has backed up the project since July 2016 when the corporation signed a loan agreement with the local waterworks Lviv Vodokanal for the construction of a biogas unit for sludge digestion.