NIB signs SME onlending deal with Sparebank 1 SR-Bank in Norway

NIB has signed a loan agreement of EUR 120 million with Sparebank 1 SR-Bank ASA for onlending to SMEs and hydropower projects in Norway.

About half of the five-year-maturity loan programme is earmarked for onlending by Sparebank 1 SR-Bank to hydropower projects, such as constructing and renovating small-scale hydropower plants. Hydroelectric power is a clean, renewable energy source and therefore fits well with NIB’s mission.

The second half of the loan will be onlent to help finance SME investments in tangible assets such as construction machinery, helicopters and underwater remotely operated vehicles.

“The loan programme is a great opportunity for NIB to help finance new investments by SMEs and hydropower projects in Norway”, says Henrik Normann, NIB President and CEO.

Sparebank 1 SR-Bank is based in Stavanger and has 53 branches in the counties of Rogaland, Hordaland and Agder. It is publicly listed and ranks as Norway’s fourth largest savings bank by assets.

NIB is an international 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
Sari Cabell, Senior Manager, Origination, tel. +358 10 618 0519,

Arild Moen, Senior Communications Officer, tel. +358 10 618 0496,