09.04.2025 | News
The demand for financing from Nopef remained high in 2024, resulting in an increase in conditional loan financing from the previous year and reflecting a sustained interest in Nopef’s offering.
During 2024, Nopef provided financing totalling EUR 2.2 million to 54 projects, which surpassed the financed projects target and marked an increase from the 48 feasibility studies approved in 2023. The total financing granted also rose from EUR 1.9 million in 2023.
Read more in Nopef Annual Review 2024 >
The majority of the projects (65%) supported by Nopef in 2024 aimed at assessing and preparing international investments and establishing business operations in foreign growth markets. Feasibility study funding is also offered for pilot and demonstration projects for green technologies, for which demand continued to increase, resulting in 19 approved projects (11 in 2023). The approved studies covered solutions in water technology, sustainable construction materials, energy efficiency, and solar power.
“We are delighted to see a growing number of companies embracing new market opportunities, supported by targeted financial support that truly makes an impact,” said Mikael Reims, Vice President of Origination at Nefco. Nefco has been the fund manager of Nopef since 2014.
Nopef aims to contribute to the objectives of the Vision 2030, with all 54 projects approved for financing in 2024 aligning with the Nordic Council of Ministers’ action plans. Most of these projects focused on the circular economy and sustainable business models, with 23 projects dedicated to these initiatives.
All approved Nopef projects undergo assessment by Nefco’s environmental and sustainability experts to ensure they deliver measurable environmental or climate benefits. In 2024, 15 projects approved for Nopef funding focused on reducing greenhouse gas emissions through energy efficiency, 10 projects through renewable energy production, and 9 projects aimed at supporting the transition to a circular economy.
“At Nefco, we are in a unique position to continue supporting Nordic SMEs and look forward to further success stories resulting from their international endeavours,” commented Reims.
At the end of 2024, Nopef’s portfolio consisted of 126 conditional loans, amounting to EUR 4.8 million, up from 111 conditional loans worth EUR 4.1 million the previous year. With projects across 34 countries, Nopef’s portfolio highlights its global reach.
More about Nopef activities and results
For further information, please contact:
Mikael Reims, Vice President Origination, Nefco
mikael.reims@nefco.int, +358 10 6180 670
Anni Rein, Communications Manager, Nefco
anni.rein@nefco.int, +358 10 6180 852