Finland is a leader in the environmental technology sector which has also become an important focus area for the European Bank for Reconstruction and Development (EBRD), according to the organisation’s chairman Suma Chakrabarti. He recently met with ministers of the Finnish government to discuss intensifying the use of Finnish environmental technology expertise in EBRD’s projects.
Chakrabarti views Finland’s consultancy activities in environmental technology as a particular strength. Finland’s share of the global cleantech market is around 1% which is double the country’s share of the global GDP.
Finland is an important source of foreign direct investment in the EBRD’s countries of operations. According to EBRD, the value of joint Finland-EBRD investment stood at EUR 5.22 billion as of 31 December 2012, including EUR 2.58 billion in Russia, EUR 960 million in Poland, and EUR 260 million in Romania. Recent projects include Metsä Tissue’s investments in a paper mill in Poland and Nurminen’s investment in logistics in Russia.
Finland has also been an important partner in technical cooperation related work for the EBRD. Since 1992 Finland has contributed a total of EUR 67.6 million in donor funds, providing bilateral support to projects in north-west Russia, eastern Europe, central Asia and the Caucasus. EBDR works in 34 countries across central and eastern Europe, central Asia and the southern and eastern Mediterranean.
Sources: Helsingin Sanomat, EBRD