Cooperation with international financial institutions and organisations

Funds for neighbouring area cooperation are partly channelled via international financial institutions (IFIs), such as the European Bank for Reconstruction and Development (EBRD), the Nordic Investment Bank (NIB), the Nordic Environment Finance Corporation (NEFCO), and the International Finance Corporation (IFC), which is a member of the World Bank Group. Funds have been used to support, for example, preparation of banks’ investment projects and monitoring of their implementation as well as Finnish experts’ work. At present, the cooperation focuses on projects relating to the environment and energy efficiency.

Cooperation is done with international organisations, too. An example of such cooperation is a project to develop occupational safety and health (Developing and Implementing Occupational Safety and Health System in the North-West region of the Russian Federation) in North-West Russia, which is financed by Finland and implemented by the International Labour Organization (ILO).