17 Sep 2020
EUR 24.77 million
Financial institutions and SMEs
NIB and the Finnish Fund for Industrial Cooperation Ltd. (Finnfund) have signed a ten-year-maturity loan programme totalling USD 40 million (EUR 36 million) for onlending to projects in Finnfund’s target countries complying with NIB’s mandates.
With the help of NIB’s loan facility, Finnfund aims to increase lending to projects in developing countries that involve investments and technologies from Finnish growth-oriented companies seeking to internationalise their operations. The facility will support projects that contribute to the fulfilment of NIB’s and Finnfund’s mandates.
Finnfund is Finland’s development finance institution that provides long-term investment loans and risk capital to private projects in developing markets. The fund’s operations include project financing in the manufacturing sector, forestry, agribusiness, power generation, telecommunications and services. Currently, Finnfund is financing for example several climate-related projects and renewable energy ventures in Latin America, Africa and Asia.
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.
Finnfund provides long-term risk capital for private projects in developing countries. Investment criteria include profitability, social and environmental responsibility and positive development impacts. Apart from co-investing with Finnish companies Finnfund can finance ventures that use Finnish technology, cooperate with Finnish partners on a long-term basis, or generate major environmental or social benefits.
For further information, please contact
Nordic Investment Bank:
Taina Ulkoniemi, Senior Manager, Origination, at +358 10 618 0231,
Dimitrijs Alehins, Senior Communications Specialist, at +358 10 618 0296,
Finnish Fund for Industrial Cooperation Ltd. (FINNFUND):
Helena Arlander, Director, Portfolio and Risk Management, at +358 50 561 1516,