20 May 2020
EUR 64.5 million
Industries and services
|Date of agreement:||26 Apr 2016|
|Customer:||Sparebank 1 Nord-Norge|
|Amount in NOK:||NOK 500 million|
|Amount in EUR:||EUR 53.6 million|
|NACE sector / loan type:||Loan programme|
|Business area:||Financial institutions and SMEs|
Arctic Financing Facility (read more): 100%
The loan programme has been provided for onlending to SME investments and environmental projects in northern Norway. Sparebank 1 Nord-Norge, a member of the nationwide Sparebank 1 Alliance, was established by a merger of four regional savings banks in 1989 and is a leading provider of financial services in northern Norway. It operates 59 branches and has more than 270,000 retail customers and 33,000 corporate customers. The SME sector is Sparebank 1 Nord-Norge’s focus area.
The project is expected to alleviate credit constraints for small and medium-sized companies and facilitate the growth of their productivity. Eligible projects to be financed from the lending facility should conform to NIB’s criteria for SMEs.
Projects to be financed through a financial intermediary must fulfil the sustainability requirements defined in NIB’s Sustainability Policy and Guidelines.