17 Dec 2018
EUR 10 million
Infrastructure, transportation and telecom
NIB and Norway’s SpareBank 1 Nord-Norge have launched a new NOK 1 billion (EUR 104 million) loan facility for small and medium-sized enterprises and environmental projects in Northern Norway.
This is the second loan programme SpareBank 1 Nord-Norge has agreed with NIB; the first was signed in 2016. Under the first facility, around 2,100 loans to SME projects and up to 300 loans financing investments in electric and hybrid cars were agreed.
“NIB is pleased to continue the successful cooperation with SpareBank 1 Nord-Norge. Financing SMEs and environmental projects is crucial for growth and entrepreneurship in Norway’s Arctic region, and the loan facility will provide better access to financing”, says Henrik Normann, NIB President & CEO.
Eligible projects will comply with NIB’s sustainability requirements.
SpareBank 1 Nord-Norge, a member of the nationwide SpareBank 1 Alliance, is a leading provider of financial services in northern Norway. It operates 38 branches and has more than 350,000 retail customers and 40,000 corporate customers.
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.
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