8 Nov 2019
EUR 93.5 million
Industries and services
|Date of agreement:||22 May 2018|
|Customer:||Sparebank 1 Nord-Norge|
|Amount in NOK:||NOK 1,000 million|
|Amount in EUR:||EUR 105.4 million|
|NACE sector / loan type:||Loan programme|
|Business area:||Financial institutions and SMEs|
Arctic Financing Facility (read more): 100%
The loan has been provided to SpareBank 1 Nord-Norge for onlending to SMEs and environmental projects in northern Norway.
This is the second loan programme with NIB; the first was signed in 2016. Under the first facility, around 2,100 loans to SME projects and up to 300 loans financing investments in electric and hybrid cars were agreed.
SpareBank 1 Nord-Norge, a member of the nationwide SpareBank 1 Alliance, is a leading provider of financial services in northern Norway. It operates 38 branches and has 350,000 retail customers and 40,000 corporate customers. The SME sector is SpareBank 1 Nord-Norge’s focus area.
The loan facility is expected to alleviate credit constraints for small and medium-sized companies and to support small-scale environmental projects. Companies eligible for financing under the loan facility are required to comply with NIB’s criteria for SME lending.
Projects to be financed through a financial intermediary must fulfil the sustainability requirements defined in NIB’s Sustainability Policy and Guidelines.