10 Sep 2014
NIB launches loan programme with Faroese BankNordik
The Faroe Islands. Photo: Pamela Schönberg
NIB and BankNordik of the Faroe Islands have signed an agreement on launching a DKK 300 million (EUR 40 million) loan programme for SMEs and environmental projects in Greenland, Denmark and the Faroe Islands.
The programme’s tenor is ten years. Bank Nordik will select and manage the allocations of funds provided by NIB for financing small and medium-sized enterprises as well as for environmental projects in Greenland, Denmark and the Faroe Islands. The projects to be funded should fulfil NIB’s eligibility criteria: investments in R&D, tangible capital, such as machinery and equipment as well as ICT.
BankNordik has banking activities in Denmark, Greenland and the Faroe Islands and insurance activities in the Faroe Islands and Iceland. Founded more than a century ago, the Group has 180,000 customers, of which 800 are small and medium-sized enterprises in various sectors.
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,
Mr Dimitrijs Alehins, Senior Communications Specialist, at +358 10 618 0296,
Mr Árni Ellefsen, CFO, at +298 230 348,