14 Mar 2019
EUR 102.26 million
Financial institutions and SMEs
NIB and the Development Bank of Southern Africa (DBSA) have launched a USD 100 million (EUR 95 million) loan facility for projects with Nordic–Baltic interests in African countries.
Financing will be provided to projects in countries of the Southern African Development Community. Eligible projects will involve Nordic–Baltic interests and conform to NIB's mandate.
“Cooperation with the DBSA provides us a new opportunity to support investments of mutual interest and in line with NIB’s mandate in southern Africa. When considering potential allocations, we will target infrastructure projects but not exclude any sectors, except the ones on NIB's exclusion list”, says Marjo Harri, Head of Financial Institutions & SME at NIB.
“The DBSA is committed to playing a meaningful role in redressing Africa’s infrastructure gaps. We, therefore, value partnerships such as this one with NIB, which contributes to furthering our mission to deepen our development impact in the region”, says Ernest Dietrich, Group Executive for Treasury and Capital Management at the Development Bank of Southern Africa
The DBSA is a fully state-owned development finance institution in South Africa with a regional mandate. Its mission includes advancing the development impact in the region by expanding access to development finance.
The DBSA was a client of NIB in the late 1990s, when it fully allocated a USD 30 million facility to projects in Zambia and Mozambique.
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.
The Development Bank of Southern Africa (DBSA) is a South African state-owned development finance institution operating across the African continent. Established in 1983, its primary purpose is to promote economic and social development, as well as regional integration, through infrastructure finance and implementation.
For further information, please contact
Ms Marjo Harri, Senior Director, Head of Financial Institutions & SME, at +358 10 618 0227,
Mr Dimitrijs Alehins, Senior Communications Specialist, at +358 10 618 0296,