Rahoitusta Venäjän kauppaan. Mikael Sjövall / Maria Maliniemi Pohjoismaiden ympäristörahoitusyhtiö SVKK:n jäsentilaisuus Helsinki, 16.3.

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1 Rahoitusta Venäjän kauppaan Mikael Sjövall / Maria Maliniemi Pohjoismaiden ympäristörahoitusyhtiö SVKK:n jäsentilaisuus Helsinki,

2 NEFCO in brief International Financial Institution (IFI), established by the Nordic countries in 1990 Loans, equity investments, buyer credits and grants for environmental projects Funds to a total value of EUR 500 million Managing special funds for the Nordic countries, USA, Germany, the Netherlands, Russia, EU and GEF. Headquartered in Helsinki, Finland with 40 employees Local offices St. Petersburg & Kiev Helsinki Geographic mandate

3 Cleantech in Finland 1,600 cleantech companies in Finland The turnover of this sector was EUR 25.8 billion in 2015 Over 50,000 people are working with cleantech in Finland Over 30% of the public R&D funding goes to the cleantech sector 40,000 new jobs are expected to be created in this sector by 2020

4 Gap filler. NEFCO fills financial gaps which are not covered by commercial banks.

5 Green growth. NEFCO enables exports and sales of Nordic green technology to the neighbouring region.

6 Cost efficiency. NEFCO spends 1/8 of what it costs to reduce environmentally harmful emissions in the Nordic region.

7 Our products Loans Equity investments Buyer credits Grants Fund management

8 Environmental results

9 Distribution by country and sector

10 What is our added value for Finnish companies? NEFCO financing reduces the project risks NEFCO offers a wide range of different financial instruments NEFCO has long and solid experience from working in Russia We provide important networks to environmental players Governmental backing from five Nordic countries

11 Rahoitusinstrumenttimme Maria Maliniemi Sijoituspäällikkö NEFCO

12 NEFCO's Buyer credits Buyer credits can be provided in the range of EUR 150,000 to EUR 5,000,000 for Russian private sector companies NEFCO can in close cooperation with Finnvera finance up to 85 per cent of the total value of Finnish exports with a buyer credit Focus on cleantech and energy saving equipment Climate 3 years financial statements of the borrower company to be delivered before approval 12

13 NEFCO loan expected max. repayment period 5 years Finnish company Credit funds 85 % NEFCO Delivery Cash payment 15 % Buyer Credit Buyer Credit Guarantee Russian buyer Finnvera 13

14 Nopef grant funding Grant funding for feasibility and project studies aiming at internationalisation of Nordic/Finnish SME's outside EU/Efta area including Russia. Support for SME's in an early and critical stage of internationalization In order to gain knowledge, experience and networks in the project country (Russia) Valid for aiming at investments and establishment of foreign business unit, subsidiary, joint venture, acquisition or direct investment of permanent nature Support for market evaluation, risk analysis, development of a business plan and final investment decision 14

15 Nopef grant funding Conditional loan up to 40% of feasibility/pre-study costs Funding is disbursed against actual feasibility/pre-study costs such as own salaries, travel, consultants, legal costs, business plan Converted wholly or partially to a grant depending on project outcome 100 % grant if the project is realised, resulting in a foreign establishment or investment 50 % grant if the feasibility study does not lead to an international business set up Average size of funding is ca EUR 32,000 (maximum EUR 50,000) 15

16 NEFCO Investment Fund (IF) Nordic/Finnish ownership or long term interest in project required Small and medium sized private sector projects Loan, equity or convertible loan Exposure up to EUR 5,000,000 per project NEFCO loans up to 50% of the total project cost, maturity up to 10 years Exit for equity investments after 5-7 years. NEFCO's equity contribution can be up to 33% of the total equity Annual financial and environmental reporting required 16

17 Case: Production of cereals in Russia Myllyn Paras' new mill in Domodedovo was financed by Nordea and Finnfund NEFCO financed the company's ecologically sustainable cultivation of cereals in Kursk NEFCO's financing: EUR 3 million Climate Environmental benefits: Less discharges of nutrients and reduced CO2-emissions due to shorter transport distances 17

18 Case: Plastics production in Kaluga, Russia Set up of a plastics factory in Kaluga Financiers: Rani Plast, EBRD, Finnfund, NEFCO Environmental benefits: closed circuit, polyethylen used instead of PVC, less energy and Climate raw material consumed CO2-reduction: 10,750 tonnes per year 18

19 Cleaner Production Facility (CPF) Loans to private sector projects in North-West Russia Loan amount: Up to EUR 500,000, 90% of project cost Currency: EUR Interest: fixed 6% Security 125% of the loan amount Maximum pay-back time: 4 years Possible grace period during construction Standard loan agreement documentation Local competitive procurement, Finnish companies can bid 19

20 Case: Cleaner production in the furniture industry Client: Rossibalt in Znamensk some 55 km from Kaliningrad Replacement of two dieselfired boilers with a new 32 kw boiler using biomass Savings for the company: 1.1 million RUB per year Installation of sawdust supply system Climate and silage cutter, new sensors and a chimney Reduction of CO2, Nox and Sox 20

21 Case: Improving manure treatment in Nurma, Russia Pig farm some 55 kilometers east of St. Petersburg 80,000 pigs at the farm NEFCO's loan disbursed from the Facility for cleaner production Improved manure treatment reduces Climate the discharges phosphorus by some 129 tonnes per year Savings in water consumption: m³ 21

22 Criteria for projects Only financially viable, bankable investments can be approved Tested technology must be applied The project has to deliver reductions of environmentally harmful emissions Great importance is given to measures that can substitute hazardous chemicals, mitigate the release of toxic pollutants or reduce emissions of greenhouse gases Mandatory reporting of environmental achievements for each project financed 22

23 Environmental benefit criteria Each project is assessed by NEFCO s team of environmental experts. Main focus is to generate cost-efficient environmental benefits of interest to the Nordic countries. The environmental impact can be direct or indirect. Special attention is given to measures that can improve material efficiency by reducing the use of raw materials, metals, chemicals or water. Projects improving the ecological situation in the Baltic Sea, the Barents and the Arctic regions are of special interest to NEFCO. 23

24 Types of projects Modernisation of industrial plants Upgrades of energy utilities Energy efficiency measures Wastewater treatment Solid waste management Renewable energy Renewal of agricultural practises and/or manure treatment 24

25 Types of projects (continues) Metal industry and mining Insulation of buildings Production of environmental equipment Manufacturing of equipment for more effective use of energy Supplying consulting and engineering services within the field of environment and energy 25

26 Kiitos! Mikael Sjövall Maria Maliniemi twitter.com/nefconordic youtube.com/nefcofinland