23 Jan 2013
BSAP Fund: EUR 11 million allocated for the Baltic Sea
The Swedish-Finnish BSAP Fund has allocated the last tranche of its EUR 11 million funds to finance environmental projects in the Baltic Sea region.
Established in 2009 by the governments of Sweden and Finland to facilitate environmental projects that enhance the ecological state of the Baltic Sea as outlined in the HELCOM Baltic Sea Action Plan, the BSAP Fund has been jointly administered by NIB and Nordic Environment Finance Corporation (NEFCO).
“Since its inception, the Fund has financed 34 projects, which will have a substantial impact on the environmental condition of the Baltic Sea by, for instance, reducing discharges of phosphorus and nitrogen”, says Senior Manager Anders Alm who has been seconded from the Swedish Ministry of the Environment to manage the BSAP Fund at NIB in Helsinki.
“The tremendous interest in the BSAP Fund is an indicator that there are many companies, institutions and authorities willing to invest in environmental projects beneficial to the Baltic Sea”, adds Mr Alm, who will now be returning to Stockholm after the successful completion of his mandate.
Among other activities, the BSAP Fund has facilitated investments in the recycling of algae nutrients, improved sewage treatment, manure treatment and ship fuel.
Since 2009, the Fund has financed projects valued at EUR 39 million, with the main focus being on promoting replicable innovative technical solutions.
Although the disbursement of funds has been completed, NEFCO will continue administering and evaluating BSAP-funded projects.