22 Nov 2017

NIB and Sparebanken Øst to finance low-emission projects in Norway

NIB and Norway’s Sparebanken Øst have signed a NOK 300 million (EUR 32 million) loan programme for onlending to projects aimed at curbing CO2 emissions as well as small and medium-sized enterprises’ (SMEs) investments in south-eastern Norway.

The funds under the loan programme are earmarked mostly for passive- and low-energy housing projects to meet the requirements of the Norwegian voluntary building standards. A part of the loan facility will be allocated to the acquisition of electric and hybrid vehicles and financing of SMEs’ investments in Buskerud County and Oslo-Akershus area.

“NIB’s loan programme with Sparebanken Øst is meant to assist in reducing environmental footprint in housing and transport. We hope that housing projects that voluntarily meet national standards with regard to energy efficiency as well as electric and hybrid cars help to curb further carbon emissions in the Nordic countries”, says Henrik Normann, NIB President & CEO.

Sparebanken Øst is an independent regional savings bank based in Drammen. Retail customers account for 86% of the bank’s loan book and corporate customers, all of them SMEs, for 14%.

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, sari.cabell (at) nib.int
Mr Dimitrijs Alehins, Senior Communications Specialist, at +358 10 618 0296,