The overall aim of the project is to replace existing, outdated machinery with modern and environmentally friendly street cleaning vehicles. The loan, valued at EUR290,700, will be disbursed from NEFCO’s facility for cleaner production.
Maria Maliniemi, investment manager of NEFCO, said: “This is the second loan targeted for emission reduction measures in the transports sector in Russia, which we have approved because there is a demand for modernizing the fleets of machines in many Russian cities. We hope that this funding can stimulate similar upgrades in other areas.”
The Novgorod project is expected to reduce harmful yearly emissions of nitrogen oxides, carbon monoxide and organic carbon by almost 100 tonnes for each substance. The procurement of new, fuel efficient vehicles will also reduce fuel consumption by approximately 95,000 litres per year, and help reduce carbon dioxide emissions by some 215 tonnes per year. The payback period for the loan is 3.8 years.
