25 Mar 2020
EUR 750 million
|Date of agreement:||20 Dec 2016|
|Amount in NOK:||NOK 500 million|
|Amount in EUR:||EUR 55.4 million|
|NACE sector / loan type:||Loan programme|
|Business area:||Financial institutions and SMEs|
The loan has been provided for onlending to SMEs and small mid-caps, as well as environmental projects in western Norway.
The loan amount is expected to be onlent mainly to finance investments in various industries, for instance, real estate, fishing, services and offshore supply.
Sparebanken Møre was established in 1985. The bank serves about 170,000 customers and runs 30 branches in 24 municipalities in the county of Møre og Romsdal.
The project is expected to facilitate productivity growth through alleviating credit constraints. Eligible projects to be financed from the lending facility should fulfil NIB’s mandate criteria for SMEs.
Projects to be financed through a financial intermediary must fulfil the sustainability requirements defined in NIB’s Sustainability Policy and Guidelines.