NIB and Landsbankinn Sign USD 75 Million Loan Program to Boost SMEs and Environmental Projects in Iceland

NIB and Landsbankinn Sign USD 75 Million Loan Program to Boost SMEs and Environmental Projects in Iceland

(IN BRIEF) The Nordic Investment Bank (NIB) and Icelandic bank Landsbankinn hf. have entered into a new seven-year USD 75 million loan program aimed at financing small and medium-sized enterprises (SMEs) and environmental initiatives in Iceland. The program will provide funding to SMEs across various sectors, including fishing, real estate, and tourism, with the goal of easing credit constraints and fostering productivity growth in the country. This collaboration marks another successful effort between NIB and Landsbankinn, following previous loan programs that supported Icelandic SMEs and environmental projects, including financing for Landsbankinn’s new green headquarters. Landsbankinn hf. is Iceland’s largest universal bank, and NIB is an international financial institution owned by eight member countries, financing projects within and beyond these nations.

(PRESS RELEASE) HELSINKI, 9-Dec-2023 — /EuropaWire/ — NIB and Icelandic bank Landsbankinn hf. have signed a new USD 75 million (EUR 68.6 million) loan programme to finance small and medium-sized enterprises (SMEs) and environmental projects in Iceland.

The seven-year loan programme will finance SMEs in various sectors. Among them are the fishing industry, real estate and tourism. The loan programme is set to alleviate credit constraints for SMEs and facilitate productivity gains in Iceland.

Since 2015, NIB and Landsbankinn have cooperated successfully on four loan programmes providing financing for Icelandic SMEs and environmental projects. Most recently, in 2022, NIB also provided a loan for financing Landsbankinn’s new green headquarter building.

Landsbankinn hf. is the largest universal bank in Iceland. The Bank was established in 2008 with a history going back to 1886. It is majority-owned by the Icelandic State Treasury.

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. www.nib.int

Media Contacts:

Joakim Häger
Banker, Financial Institutions
+358 10 618 0439
joakim.hager@nib.int

Iiris Anttalainen
Associate Communications Officer
+358 10 618 0258
iiris.anttalainen@nib.int

SOURCE: Nordic Investment Bank