NIB and Brage Finans to fund environmental projects and SMEs in Norway

NIB and Norwegian Brage Finans AS have signed a NOK 500 million (EUR 43.4 million) loan facility for on-lending to environmental projects and small and medium-sized enterprises (SMEs) in Norway.

The majority of the programme is earmarked for environmental investments. Eligible projects under the seven-year loan programme include investments in electric vehicles and charging stations.

Brage Finans is a Norwegian finance company offering primarily equipment leasing for corporate clients and car loans for individuals. Brage’s portfolio consists mainly of SMEs and retail customers.

This is the third loan programme NIB agrees with Brage Finans; the first facility was signed in 2018 and the second in 2020, and both have been allocated to environmental and SME projects in Norway.

Brage Finans AS is currently owned by 22 independent saving banks, of which the largest owners are Sparebanken Vest and Sparebanken Sør, and three insurance companies. In 2019, Brage Finans established a green bond framework. The company is headquartered in Bergen, Norway.

NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s. www.nib.int

For further information, please contact
Ralf Hansson, Senior Banker, Financial Institutions, at +358 10 618 0268, Ralf.Hansson@nib.int

Iiris Anttalainen, Communications unit, at +358 10 618 0258, Iiris.Anttalainen@nib.int