28 Nov 2012

NIB funds Volvo Group R&D to improve fuel efficiency

NIB has signed a seven-year-maturity loan of EUR 100 million with Volvo Treasury AB to finance emission projects and hybrid technologies.

Volvo Treasury, the in-house bank of Volvo Group, will provide funding to develop and produce engines that are compliant with forthcoming European emission regulations. The new European Union VI emission standard will further reduce output of hydrocarbons, nitrogen oxides and particulates from diesel vehicles. The R&D project will also innovate in hybrid energy technologies, active steering and control systems and fuel economy technologies.

“The breadth of the automotive sector in Sweden and Volvo Group’s collaboration with local universities increases the likelihood of positive spill-over effects of skills and knowledge to peer companies in the Baltic and Nordic region,” says Henrik Normann, NIB’s President and CEO.

NIB is a multilateral financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.

For further information, please contact
Mr Ulf Westergård, Senior Manager, Origination at +358 10 618 0234,

Mr Arild Moen, Senior Communications Officer, at +358 10 618 0496,