NIB and SpareBank 1 SMN set up new finance progamme for smaller enterprises

NIB and Norway’s SpareBank 1 SMN have launched a new, NOK 1 billion (EUR 96 million) loan facility for small and medium-sized enterprises and environmental projects in Norway.

The six-year loan programme will be used for onlending to SMEs in the real estate, agriculture, forestry, fisheries and transportation sector, as well as for environmental projects, in Trøndelag, Møre og Romsdal and Sogn og Fjordane. Typical SME investments may include new machinery, equipment, vessels and trucks.

The programme will alleviate credit constraints for small and medium-sized companies, and support the growth of their productivity and competitiveness. Eligible projects will comply with NIB’s sustainability requirements.

SpareBank 1 SMN, a member of the nationwide SpareBank 1 Alliance, is a leading provider of financial services for SMEs in central Norway. The bank is headquartered in Trondheim and has approximately 224,000 retail customers and 15,000 corporate clients.

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.

For further information, please contact

Ms Sari Cabell, Senior Manager, Origination, at +358 10 618 0519, sari.cabell@nib.int

Ms Lisa-Maria Altenberger, Communications Unit, at +358 10 618 0234, lisa-maria.altenberger@nib.int