14 Dec 2020
EUR 56.10 million
NIB has signed a seven-year loan agreement of SEK 500 million (EUR 49.24 million) with Swedish airport operator Swedavia AB to cope with the challenges caused by the COVID-19 pandemic.
The pandemic has strongly affected air travel. During the ten first months of 2020, Swedavia’s airports had 9.46 million passengers, which is a decrease of 72% compared to the passengers it had during the same period one year ago.
“The purpose of this loan is to provide countercyclical financing to relieve the consequences of the Covid-19 pandemic on critical aviation infrastructure in Sweden, given that airports are essential for the functioning of a society and the economy,” says Henrik Normann, President & CEO of NIB.
Swedavia AB operates and develops ten airports in the country, and is in charge of all commercial airport operations. The company is fully owned by the Swedish state.
As the international financial institution of the Nordic and Baltic countries, NIB finances projects that improve the productivity and benefit the environment of the region. During times of economic crisis the Bank also has a stabilising role.
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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