21 Oct 2019
EUR 10 million
Energy and water
|Date of agreement:||9 Apr 2019|
|Customer:||Finnish Fund for Industrial Cooperation Ltd|
|Amount in USD:||USD 40 million|
|Amount in EUR:||EUR 35.6 million|
|NACE sector / loan type:||Loan programme|
|Business area:||Financial institutions and SMEs|
The loan has been provided to Finnfund (Finnish Fund for Industrial Cooperation Ltd) for onlending to projects that comply with NIB’s mandate in developing markets.
Finnfund finances both greenfield and expansion projects, and can support investments that involve Nordic business or development policy interests. NIB and Finnfund have been successfully cooperating since 2003.
Finnfund is a Finnish development finance company that invests in responsible and profitable businesses in developing countries. Finnfund provides businesses with risk capital, long-term investment loans, mezzanine financing and expertise. Finnfund’s operations include financing in sectors such as sustainable forestry, agriculture and clean energy.
Each allocation under the facility will be reviewed by NIB. The environmental impact of potential investments will be assessed based on NIB’s Climate Change Mitigation Criteria in non-member countries.
All allocations under the loan programme are required to comply with NIB’s Sustainability Policy and Guidelines.