The FINANCIAL — NIB and Norway’s Sparebanken Sør have signed a NOK 750 million (EUR 80 million) loan programme for onlending to small and medium-sized enterprises’ (SMEs) investments and environmental projects.
The funds under the loan programme will be onlent for SMEs’ investments in machinery, equipment and new premises, as well as for environmental projects, such as the improvement of energy efficiency in the regions of Vest-Agder, Aust-Agder and Telemark in southern Norway, where Sparebanken Sør provides financial services. The loan programme is expected to alleviate credit constraints for small and medium-sized companies and thereby facilitate the growth of their productivity and competitiveness, according to NIB.
“NIB is welcoming Sparebanken Sør as our new customer and cooperation partner in reaching out to small businesses in southern Norway. We share the same values and principles and are looking forward to making more contribution to this region’s sustainable development”, says Henrik Normann, NIB President & CEO.
Sparebanken Sør, the sixth largest Norwegian bank in terms of total assets, was established after a merger between Sparebanken Pluss and Sparebanken Sør in 2014. Corporate customers account for about 35% of the bank’s loan book.
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