14 Mar 2019
EUR 102.26 million
Financial institutions and SMEs
The Nordic Investment Bank (NIB) and Norway’s Sparebanken Sør have launched a new NOK 1 billion (EUR 105 million) loan facility with a maturity of seven years for onlending to small and medium-sized enterprises and environmental projects in Southern Norway.
This is the second loan programme agreed between NIB and Sparebanken Sør. The first was signed in 2017, and is successfully allocated to projects in the SME sector, such as investments in new premises.
The funds of this second facility will also be onlent to SMEs to finance investments in real estate, machinery and equipment, as well as to environmental projects in the regions of Vest-Agder, Aust-Agder,Telemark and Rogaland in southern Norway, where Sparebanken Sør provides financial services.
“The cooperation with Sparebanken Sør has successfully allowed NIB to reach out to small businesses. We are pleased to announce the signing of a new loan programme, and to continue supporting productivity growth for SMEs in Norway”, says Henrik Normann, NIB President & CEO.
Eligible projects will comply with NIB’s sustainability requirements.
Sparebanken Sør is the sixth largest savings bank in Norway in terms of total assets. The bank was established after a merger between Sparebanken Pluss and Sparebanken Sør in 2014. The bank provides financial services in the Vest-Agder, Aust-Agder and Telemark regions. Corporate customers account for about 35% of the bank’s loan book.
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, email@example.com
Mr Arild Moen, Senior Communications Officer, at +358 10 618 0496, firstname.lastname@example.org