Investment & Fund Management
The European Investment
Full Credential Description
The European Investment Fund (EIF) has committed 70 million to the Nordic Environment Finance Corporation (Nefco) to enhance green financing for businesses in the Nordic region, specifically targeting small and medium-sized enterprises (SMEs) and Mid-Caps in Denmark, Finland, Iceland, Norway, and Sweden. This initiative aims to accelerate climate action and promote environmental sustainability among these companies. The EIF's support, backed by the InvestEU programme, allows Nefco to offer loans with reduced interest rates, thereby making financing more accessible for businesses focused on technological advancements in clean power, energy savings, and the circular economy.
The collaboration marks a significant milestone as Nefco becomes the first international financial institution to enter into such an agreement with the EIF. The EIF's guarantee will cover up to 100 million in financing, with a guarantee rate of up to 70%. This strategic partnership is designed to bridge the financing gap for Nordic SMEs, empowering them to scale their innovations and contribute to a more resilient and sustainable economy. The initiative underscores the EIF's commitment to fostering sustainable economic growth in the Nordic region and supporting the European Union's broader objectives related to climate action and environmental sustainability.