How we work
The Nordic Environment Finance Corporation (Nefco) is the Fund Manager of all programmes and projects presented on this website.
Nefco is an international financial institution (IFI) governed by its constituent documents: the Agreement between Denmark, Finland, Iceland, Norway and Sweden concerning Nefco, the Statutes of Nefco as well as the Host Country Agreement between the Government of Finland and Nefco. Each Nordic country has endorsed the Agreement on Nefco in accordance with its respective national procedures.
As an IFI, Nefco has the status of an international legal person with full legal capacity to enter into agreements; to acquire and dispose of immovable and movable property; and to be a party to legal proceedings. As an international legal person, Nefco is not entered into the trade register in any of the owner countries.
In its governance principles, Nefco promotes sustainability, equality, transparency, predictability, accountability and responsibility.
In addition to the constituent documents, Nefco’s activities are governed by a number of policies and guidelines adopted by Nefco’s Board of Directors or the Managing Director.
In Ukraine, Nefco was ratified as an IFI by the Law of Ukraine “On Ratification of the Framework Agreement between the Government of Ukraine and the Nordic Environment Finance Corporation” dated 17 September 2009. Nefco’s project portfolio in Ukraine includes over 200 active projects, in various stages, of them approx.130 projects are being implemented in corporation with Ukrainian municipalities.