Norway. Sparebank 1 Nord-Norge
| Date of agreement: | 26 Apr 2016 |
|---|---|
| Country: | Norway |
| Customer: | Sparebank 1 Nord-Norge |
| Amount in NOK: | NOK 500 million |
| Amount in EUR: | EUR 53.6 million |
| Maturity: | 5 years |
| NACE sector / loan type: | Loan programme |
Facilities
Arctic Financing Facility (read more): 100%
Project
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.
Fulfilment of NIB's mandate
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.
Sustainability summary
Projects to be financed through a financial intermediary must fulfil the sustainability requirements defined in NIB’s Sustainability Policy and Guidelines.
