16 Jan 2020
EUR 100.3 million
Industries and services
NIB and Denmark’s Investment Fund for Developing Countries (IFU) have signed a EUR 50 million loan agreement with a maturity of 10 years for on-lending to projects in IFU’s target countries.
With the help of NIB’s loan facility, IFU aims to increase lending to sustainable projects that generally involve Nordic interests, such as the transfer of know-how or the delivery of goods and services. The facility will support projects that contribute to the fulfilment of NIB’s mission.
“The loan agreement with IFU opens an opportunity for NIB to contribute to the policies of one of the Bank’s member countries, Denmark, and to support cooperation with developing nations. IFU will allow NIB to finance projects in Latin American, African, Asian and European countries where the Bank has not been present”, says Henrik Normann, NIB President & CEO.
“IFU welcomes the opportunity to work with NIB, thereby broadening IFU’s funding base to the benefit of both the developing countries and our partners in the Nordics”, says Torben Huss, IFU CEO.
IFU is an independent, government-owned development finance institution providing risk capital and advice to companies wishing to do business in Africa, Asia, Latin America and parts of Europe. Investments are made on commercial terms in the form of equity and loans to projects. The purpose is to promote economic and social development in the investment countries.
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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