NIB signs Arctic SME onlending facility with SpareBank 1 Helgeland - Nordic Investment Bank
Summary
NIB has signed a 5-year Arctic loan agreement with SpareBank 1 Helgeland for onlending to small and medium-sized companies (SMEs) and environmental projects in northern Norway.The loan aims to alleviate credit constraints for smaller companies, which are at a comparative disadvantage to facilitate productivity growth. Since these companies contribute significantly to aggregate output and employment in the member area, improved access to financing for productivity-improving projects can enhance the competitiveness and efficiency of markets.SpareBank 1 Helgelands ambition is to be a driving force for sustainable growth in the Helgeland region. Our longstanding partnership with NIB helps us realise this ambition by putting us in a stronger position to finance projects and businesses in Helgeland with a clear sustainability profile, says Hanne Nordgaard, Chief Executive of SpareBank 1 Helgeland.The loan programme is allocated under NIBs Arctic Facility and is the third loan agreed with Helgeland Sparebank. This Arctic loan agreement strengthens our commitment to supporting SMEs and environmental projects in Northern Norway, fostering regional development and sustainability. In 2021, it joined the SpareBank 1 Alliance, a group of 12 Norwegian banks that collaborate to offer a comprehensive range of financial services to their customers.NIB is the international financial institution of Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway, and Sweden.