NIB and SpareBank 1 Østlandet sign new loan programme

NIB and Norway’s SpareBank 1 Østlandet have launched a NOK 1 billion (EUR 102 million) loan facility for small and medium-sized enterprises (SMEs) and environmental projects in Norway.

The six-year loan programme will be used for onlending to small and medium-sized companies and for financing small-scale environmental projects in the counties of Hedmark, Oppland, Oslo and Akershus.

Eligible investments under the loan facility include, for example, projects in the transportation and forestry sector, as well as purchases of industrial machinery and IT equipment.

Environmental projects that can receive financing under the facility include, amongst others, energy efficiency investments and green buildings.

This is the fourth loan programme signed between NIB and SpareBank 1 Østlandet since 2004.

“SMEs make up a significant part of the economic activity in NIB’s member countries. Our long-term cooperation with SpareBank 1 Østlandet has improved access to financing for smaller enterprises and has helped foster productivity growth”, says Henrik Normann, NIB President & CEO.

Eligible projects will comply with NIB’s sustainability requirements.

SpareBank 1 Østlandet is Norway’s fourth-largest savings bank and is headquartered in Hamar. The bank operates 37 branches and serves approximately 337,000 customers in the counties of Hedmark, Oppland, Oslo and Akershus.

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, sari.cabell@nib.int

Ms Lisa-Maria Altenberger, Communications Unit, at +358 10 618 0234, lisa-maria.altenberger@nib.int