17 Oct 2017

NIB and SpareBank 1 Østlandet open SME loan facility in Norway

NIB and Norway’s SpareBank 1 Østlandet (SPOL) have signed an agreement to launch a NOK 750 million (EUR 80 million) loan programme for onlending for investments by small and medium-sized enterprises (SMEs) and environmental projects.

The funds under the loan programme will be onlent for various SME investments, for example, in industry and construction machinery and IT equipment, as well as for environmental projects in the regions of Hedmark, Oppland, Akershus and Oslo in eastern Norway.

The loan programme is expected to alleviate credit constraints for small and medium-sized companies, and thereby facilitate the growth of their productivity and competitiveness.

SPOL was formerly known as Sparebanken Hedmark, which merged with Bank 1 Oslo Akershus in April 2017. SPOL is the fourth largest savings bank in Norway. Corporate customers, of whom the majority are SMEs, account for 36% of the bank’s loan book. The customer segments include real estate, commercial services, agriculture and forestry.

“NIB had fruitful cooperation with Sparebanken Hedmark, which fully allocated NIB-financed loan programmes to Norwegian SMEs. Sustainable growth of NIB’s member countries is our priority, and partnering with SpareBank 1 Østlandet is an important step in this direction”, says Henrik Normann, NIB President & CEO.

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
Ms Sari Cabell, Senior Manager Origination, at +358 10 618 0519,
Mr Dimitrijs Alehins, Senior Communications Specialist, at +358 10 618 0296,