3 Jul 2020
EUR 60 million
Financial institutions and SMEs
|Date of agreement:||10 Dec 2019|
|Customer:||Investment Fund for Developing Countries|
|Amount in EUR:||EUR 50 million|
|NACE sector / loan type:||Loan programme|
|Business area:||Financial institutions and SMEs|
The loan facility has been provided for on-lending to projects in IFU’s programme countries that comply with NIB’s criteria. Eligible projects generally aim to contribute to economic and social development and involve Nordic interests, such as the transfer of know-how or the delivery of goods and services.
The Investment Fund for Developing Countries (Investeringsfonden for Udviklingslande, IFU), an independent government-owned development finance institution, was established by the Danish state in 1967. IFU provides risk capital and advice to companies that wish to do business in Africa, Asia, Latin America and parts of Europe. Investments are made on commercial terms in the form of equity and loans to projects. The purpose is to promote economic and social development in the investment countries.
The loan programme with IFU provides an opportunity for NIB to reach out to companies that seek the internationalisation of their business. The programme will direct the Bank’s financing to projects in non-member countries that fulfil NIB’s mission.
Each allocation under the loan program will be assessed prior to decision and subsequent disbursement.