Ukraine interested in foreign investment of environment projects on its territory

Ukraine is interested in promoting financing of environment projects developed by the Nordic Environment Finance Corporation (NEFCO), “Cabinet press office” reported.

As the Ministry of Environment press-service reported, Ministry head Vasyl Dzharty and Norway Ambassador to Ukraine Olav Berstad have considered Ukraine and Norway cooperation perspectives in the environment area, issues related to resources conservation, and cooperation between Ukraine and the NEFCO, which proposes advantageous conditions for the environment project financing.

The meeting participants have also discussed possible cooperation agreement between the cabinet of Ministers and the NEFCO. The agreement preparation has started in Ukraine since 2004, but the Ministry of Finance, the Ministry of Foreign Affairs, and the Ministry of Justice have not still considered the draft agreement.

The NEFCO stands for Nordic Environment Finance Corporation; it is a multilateral finance institution established in late 1998 by Island, Norway, Denmark, Sweden, and Finland. In 2004, the NEFCO initiated negotiations with the Cabinet and the ministry of Environment, and then proposed to attract the corporation's investment potential and capabilities to finance environment projects in Ukraine.