5 Dec 2019
EUR 20 million
Financial institutions and SMEs
NIB and Estonia’s AS LHV Pank have signed an agreement on launching a EUR 20 million loan programme for onlending to small and medium-sized enterprises (SMEs) in Estonia.
The funds under this 5-year loan programme will be onlent for various SME investments. The loan allocations are expected to fulfil the eligibility criteria for a good rating for loan programmes to SMEs. As a segment, SMEs produce approximately three quarters of the total added value of Estonia’s economy, which is more than the EU average.
AS LHV Pank is part of AS LHV Group which was established in 1999. LHV is the largest domestically owned banking group and the fourth largest in terms of assets in Estonia. The Bank has a strong focus on lending to SMEs in sectors such as real estate, financial services, manufacturing, and transport and logistics.
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 Wilhelm Lindström, Manager Origination, at +358 10 618 0506, firstname.lastname@example.org
Mr Dimitrijs Alehins, Senior Communications Specialist, at +358 10 618 0296, email@example.com