Who we are

Nopef is guided by Nordic cooperation and oversight. Learn more about our governance.

The Nordic Project Fund

At Nopef, we are committed to supporting the international ambitions of Nordic small and medium-sized enterprises. Our work is guided by a dedicated fund manager and a steering committee composed of representatives from the Nordic countries.

Together with the Nopef team they ensure that Nopef’s strategy, funding decisions, and operations align with its mission to promote sustainable growth and global competitiveness for Nordic businesses.

Fund manager

Nefco (Nordic Environment Finance Corporation) serves as the fund manager of Nopef (the Nordic Project Fund), playing a central role in its governance, operations, and strategic alignment with Nordic priorities.

As the appointed fund manager since 2014, Nefco is responsible for the administration and implementation of Nopef in accordance with the agreement between the Nordic Council of Ministers and Nefco. This includes:

Managing funding operations: Nefco oversees the entire funding process ensuring that conditional loans for feasibility studies are granted and monitored according to established terms.
Strategic alignment and impact: Nefco ensures that Nopef’s activities support the Nordic Vision by promoting green, competitive, and socially sustainable growth.
Governance and oversight: Nefco coordinates with the Nopef Steering Committee, which provides strategic direction and oversight.
Content and communication: Nefco is responsible for producing and managing content related to Nopef, including website and publications, to ensure transparency and accessibility of information for stakeholders and applicants.

For more information about Nefco, please visit: www.nefco.int

Contact the Nopef team

Steering Committee

The Nopef Steering Committee plays a key role in guiding the fund’s strategic priorities and ensuring alignment with Nordic policy goals. Appointed by the Nordic Council of Ministers, the committee provides oversight on governance, funding decisions, and annual planning. It also contributes to the development of Nopef’s environmental and gender equality frameworks, helping to shape a more sustainable and inclusive project portfolio.

Nopef’s Steering Committee has five members, one from each Nordic country. The Committee member can also have a personal deputy from the same country.

Denmark

Member
Jakob Tvede
Ministry of Foreign Affairs

Deputy
Morten Kruse
Ministry of Foreign Affairs

Finland

Member
Tiina Ingman 
Ministry of Economic Affairs and Employment

Deputy
Marko Laiho
Ministry of Economic Affairs and Employment

Iceland

Member
Ragnheiður H. Magnúsdóttir
Nordic Ignite

Norway

Member
Geir Ove Hansen
Innovation Norway

Sweden

Chairperson
Carl Rosén
Ministry of Climate and Enterprise

Nordic Council of Ministers

Nopef is financed by the Nordic Council of Ministers as part of its commitment to strengthening Nordic cooperation and competitiveness.

The Nordic Council of Ministers and the Nordic Council are the main forums for official Nordic collaboration, bringing together Denmark, Finland, Iceland, Norway, Sweden, the Faroe Islands, Greenland, and Åland. This cooperation is one of the most comprehensive regional partnerships in the world, rooted in shared values and a long tradition of working together across politics, the economy, and culture.

Through Nopef, the Nordic Council of Ministers supports the internationalisation of Nordic small and medium-sized enterprises (SMEs), helping them scale green and sustainable solutions globally. This aligns with the Nordic Vision to make the Nordic Region the most sustainable and integrated region in the world by 2030.