24 Nov 2020

NIB and Sparebanken Sogn og Fjordane to finance small business

NIB and Sparebanken Sogn og Fjordane have launched a new, NOK 500 million (EUR 45.33 million) loan facility for small and medium-sized enterprises and environmental projects in Norway.

The six-year loan programme will be used for onlending to SMEs e.g. agriculture, aquaculture and general industries. The loan will contribute to financing sustainable development in the region. From January 2021, Sparebanken Sogn og Fjordane will offer a green loan for investments that reduce CO2 emissions from the local business community.

The project will alleviate credit constraints for small and medium sized companies and facilitate productivity growth. All projects financed should fulfil NIB’s mandate criteria for SMEs.

SMEs contribute to a considerable share in aggregate output and employment in NIB’s Nordic and Baltic member country area. Improving access to financing that raise productivity can therefore increase the competitive pressure and efficiency on the market.

Sparebanken Sogn og Fjordane is the largest savings bank in Sogn og Fjordane and the 8th largest in Norway. SSF offers retail and corporate customers banking, financing, insurance, savings, pensions and payment services. The bank has 13 branches and 20 bank-in-shop agreements in Sogn og Fjordane.

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

Mr Arild Moen, Senior Communications Officer, at +358 10 618 0496, arild.moen@nib.int