(PRESS RELEASE) HELSINKI, 6-Jul-2020 — /EuropaWire/ — International financial institution NIB announces signing of a ten-year loan agreement with Danish Ringkjøbing Landbobank (RLB) for onlending to environmental projects and to small and medium-sized enterprises in Denmark.
A substantial part of the EUR 60 million loan is expected to be allocated to renewable energy projects. In addition to wind power, Ringkjøbing Landbobank (RLB) has also seen a push for investments into biogas based on waste material. They have estimated that up to 75 percent of the entire loan programme could be backed by renewable energy projects.
NIB and RLB have been cooperating in financing of smaller companies and environmental projects since 1999.
“As called upon by our owners, NIB is supporting sustainable businesses during the corona pandemic. The continued cooperation with RLB is well in line with that goal. We see this cooperation as a great opportunity and a vital link in reaching out to smaller businesses in Denmark”, says Henrik Normann, NIB President & CEO.
Established in 1886, Ringkjøbing Landbobank is a Danish regional and niche bank with operations in central, western and northern Jutland.
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.
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SOURCE: NORDIC INVESTMENT BANK