All agreed loans

Iceland. Byggðastofnun (Icelandic Regional Development Institute)

Date of agreement: 5 Sep 2007
Country: Iceland
Customer: Byggðastofnun (Icelandic Regional Development Institute)
Amount in EUR: EUR 19.1 million
NACE sector / loan type: Financial intermediation, except insurance and pension
Business area: Financial institutions and SMEs

Project

Byggðastofnun will use the proceeds of the loan totalling EUR 19 million to finance new projects in the rural areas of Iceland in 2007 and 2008. The fisheries sector is the largest sector in the loan portfolio of Byggðastofnun with its 39% share; services have 33%, manufacturing industry 13% and other industries 15%. Byggðastofnun is a non-profit organisation founded by the Icelandic government for improving economic and living conditions in rural areas by supporting viable, long-term projects with diverse economic bases.