16 Jun 2011

NIB extends CLEERE lending facility to EUR 3 billion

NIB's Climate Change, Energy Efficiency and Renewable Energy (CLEERE) lending facility has been further extended to EUR 3 billion.

The Bank launched the facility in early 2008 and in three years committed EUR 2 billion to projects aimed at promoting renewable energy, energy efficiency and other measures of abating and adapting to climate change.

"We are extending the climate lending facility in response to a strong demand for long-term financing to eligible projects in this area," says Johnny Åkerholm, NIB President and CEO.

Within the CLEERE framework, NIB has provided loan financing to 64 environmental projects, including the launch of the offshore windmill farm Horns Rev II, a solar-grade silicon factory in Norway, the first waste-to-energy power plant in the Baltic countries, and the expansion of the public transport network in Helsinki.