NEFCO increases funds for cleaner production in Eastern Europe
(Thomson Reuters ONE) - Press release, 23 September 2009The Nordic Environment Finance Corporation NEFCO's board of directorshas decided to replenish the corporation's facility for cleanerproduction by 4 million euros. The decision was made today duringNEFCO's board meeting in Saint Petersburg, Russia.The facility for cleaner production was established in 1997 topromote technological investments in industrial projects in order tocurb the emission of harmful substances into the environment. Thefacility can finance up to 350,000 euros or 90 per cent of theinvestment cost for such projects in the form of subsidized loans.Since the establishment of the facility, NEFCO has granted loansworth 13.8 million euros for 63 projects. The facility's currentgeographical focus is mainly on Russia and Ukraine where the mostrecent projects have been the upgrading of heating substations andthe installation of energy efficient heating and ventilation systemson pig farms in Ukraine.According to NEFCO's environmental status report, last year theprojects financed by the facility for cleaner production reducedcarbon dioxide emissions by 52,500 tonnes. The corresponding figurefor the reduction of sulphur oxide emissions during the same periodwas 1,916 tonnes."Because of the reluctance of commercial banks to grant credit forupgrading industrial production facilities during the currenteconomic recession, the facility has generated tremendous interest inthe countries where we operate. The main attraction is the fact thatNEFCO loan repayments are directly tied to the savings realised fromthe projects as a result of the energy efficiency measures as well asother resource saving measures," says NEFCO's investment manager,Maria Maliniemi."The facility for cleaner production has been a success story and theemission reductions generated through these projects have been costefficient. The replenishment of this facility enables us to invest ina wide range of similar projects in Russia, Ukraine and Belarus, saysNEFCO's managing director, Magnus Rystedt.For more information, please contact:Magnus Rystedt, Managing Director, NEFCO, +358 50 329 6224Maria Maliniemi, Investment Manager, NEFCO, +358 50 539 4428Mikael Sjövall, Communications Manager, NEFCO, +358 50 3535 045This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 23.09.2009 - 10:57 Uhr
Sprache: Deutsch
News-ID 6118
Anzahl Zeichen: 0
contact information:
Town:
London
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 296 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"NEFCO increases funds for cleaner production in Eastern Europe"
steht unter der journalistisch-redaktionellen Verantwortung von
NEFCO (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
