17 Oct 2011

NIB finances new terminal at Oslo Airport Gardermoen

NIB and Norwegian Avinor AS have signed a loan totalling NOK 1,500 million (EUR 192 million) for the construction of the new Terminal 2 at Oslo Airport Gardermoen.

The 20-year-maturity loan will be used for financing the expansion of the Gardermoen terminal building with a new pier, Terminal 2.

The initial phase of the project, which will be partly financed by NIB, will increase the capacity of the airport to 28 million passengers by 2017-laying the ground for further expansion to 35 million passengers thereafter.

"Effective transport, logistics and communications are essential for the competitiveness of the Bank's member region and lending to infrastructure projects is part of our core activity," says Johnny Åkerholm, NIB President and CEO.

"Oslo Airport Gardermoen is the main airport in Norway. The new, NIB-financed terminal will help the airport maintain a competitive role in international aviation and ensure an efficient and reliable transport system for domestic and international travel in our member country."

Avinor operates 46 airports in Norway and is responsible for planning, developing and operating the Norwegian airport network. Avinor was established in 2003 as a limited company wholly owned by the state. The ownership is administered by the Ministry of Transport and Communications.

The Nordic Investment Bank (NIB) is the common international financial institution of the eight Nordic and Baltic countries. NIB provides long-term financing to the energy, environmental, transport, logistics and communications, and innovation sectors for projects that strengthen competitiveness and enhance the environment. 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

Sari Cabell, Senior Manager, Origination, at + 358 10 618 0519,

Nina Monsen, Senior Communications Specialist, at +358 10 618 0291,

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