ArmInfo. On today's session the Armenian government has approved proposal on signing a framework agreement between Armenian Republic and the Nordic Environment Finance Corporation (NEFCO).
According to Armenia's Finance Minister Gagik Khachatryan agreements will allow to attract beneficial loans from Scandinavian countries for nature protection projects aimed at reduction of emission of hazardous substances. According to him finances raised via this agreement may be allocated for power supply of the communities, introduction of energy saving systems, management of process of wastewater treatment, solid-waste recycling, implementation of renewable energy programs.
The Nordic Environment Finance Corporation (NEFCO) is an International Financial Institution established in 1990 by the five Nordic countries: Denmark, Finland, Iceland, Norway and Sweden. To date, NEFCO has financed a wide range of environmental projects in Central and Eastern European countries, including Russia, Belarus and Ukraine. From its headquarters in Helsinki, NEFCO's activities are focused on projects that achieve cost-effective environmental benefits across the region. NEFCO projects are usually run in partnership with the enterprise that 'owns' the project. Emphasis is placed on direct investments from, for example, public-private partnerships and corporate public services.
