NIB’s climate lending facility extended by EUR 1 billion

NIB is extending its Climate Change, Energy Efficiency and Renewable Energy (CLEERE) lending facility by another EUR 1 billion.

The facility targets projects aimed at combating and adapting to climate change through increasing energy efficiency in the industry, the housing sector and transport as well as through promoting energy generation from renewable sources. Loans under this facility are provided as part of NIB’s regular lending operations.

“Facilities like CLEERE provide a clear message about the Bank’s intentions by identifying both the focus and the planned volumes. The extension of the climate lending facility is our response to a continuously strong demand for financing in this area,” says Johnny Åkerholm, NIB President and CEO.

CLEERE was launched in early 2008 with a framework of EUR 1 billion. The entire amount was allocated by the end of 2009 to more than thirty environmental projects, including the launch of the world’s largest offshore windmill farm Horns Rev II, a solar-grade silicon factory in Norway, the refurbishment of hydropower plants in Finland and Latvia, better energy efficiency of buildings in Lithuania, as well as many other actions.

The Nordic Investment Bank is the common international financial institution of the eight Nordic and Baltic countries. NIB provides long-term financing to the energy, environmental, transport, logistics and communications, and innovation sectors for projects that strengthen competitiveness and enhance the environment. NIB has the highest possible credit rating, AAA/aaa, with the leading rating agencies Standard & Poor’s and Moody’s.

For further information, please contact

Mr Johnny Åkerholm, President and CEO of NIB, at +358 10 618 001,

Mr Jukka Ahonen, Director of Communications, at +358 10 618 0295,