22 Mar 2018

NIB lends to broadband network investments in Norway

NIB has signed a 15-year loan agreement with Eidsiva Energi AS to develop the digital infrastructure in Norway during 2017-2021.

The NOK 600 million (EUR 63.1 million) loan allows Eidsiva Energi to roll out an investment plan of optical fibre broadband networks in an area with the lowest density of broadband in Norway.

The investment project includes 70,000 new customers, of which 50,000 are expected to be connected to the network and 20,000 to have passive access. The investment will provide new digital infrastructure and services by expanding coverage, increasing capacity and speed.

Increased access to fast broadband contributes to Norways’s national digital strategy of providing a minimum of 100 Mbit/s broadband connections to 90% of all households by 2020.

Eidsiva Energi AS is the largest producer and distributor of electricity in the regions of Oppland and Hedmark, Norway. The company is based in Hamar and serves approximately 159,000 customers. Eidsiva Energi owns 90.1% of Eidsiva Bredband AS, which offers broadband services. The remaining shares are owned by eight energy utility companies in Hedmark and Oppland.

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
Mr Yngve Söderlund, Senior Manager Lending, Origination, at +358 10 618 0239,

Ms Niina Rantti, Communications Officer, at +358 10 618 0265,