NIB and Norwegian bank Sparebanken Møre partner for NOK 500m SME loan facility

NIB and Norwegian bank Sparebanken Møre partner for NOK 500m SME loan facility

(IN BRIEF) NIB and Sparebanken Møre have teamed up to launch a six-year loan programme to finance small and medium-sized enterprises in the Norwegian market area Nordvestlandet. The NOK 500m ($56.3m) loan programme will fund projects that will boost the competitiveness of SMEs in various sectors including real estate, fishing, services and offshore supply. The CEO of Sparebanken Møre said that the bank’s county has a significant share of SMEs, which are important for development and innovation, and through the loan agreement they can facilitate growth and necessary investments in this segment.

(PRESS RELEASE) HELSINKI, 16-Mar-2023 — /EuropaWire/ — NIB and the Norwegian Sparebanken Møre have launched a 6-year loan facility for onlending to small and medium-sized enterprises (SMEs) in the savings bank’s market area Nordvestlandet.

The NOK 500 million (EUR 45.66 million) loan programme will co-finance projects that will increase the competitiveness of SMEs in various sectors such as real estate, fishing, services and offshore supply.

“I am pleased to continue our partnership with Sparebanken Møre that we started in 2002 which is essential for NIB in reaching out to the many businesses in Nordvestlandet. The small and medium-sized enterprises and midcaps contribute significantly to the overall output and job creation in the region. Providing better access to financing for projects boosting productivity means we can contribute to bolstering competition and efficiency in the market”, says André Küüsvek, NIB President and CEO.

Sparebanken Møre was established in 1985. The bank operates 27 branch offices throughout the county of Møre og Romsdal.

The CEO of Sparebanken Møre, Trond Lars Nydal, says: “This is an important long-term agreement for Sparebanken Møre and our customers. Our county has a large share of small and medium-sized businesses that are important generators of development and innovation. Through the loan agreement, we can facilitate growth and necessary investments in this segment. The Nordic Investment Bank (NIB) is a central financial actor in the Nordic and Baltic region, and this agreement strengthens our long and good cooperation with NIB.”

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.

Media Contact:

Jim Dahlström
Senior Banker
Tel: +358 10 618 0334
Email: jim.dahlstrom@nib.int

Arild Moen
Associate Director, Communications
Tel: +358 10 618 0496
Email: arild.moen@nib.int

For Sparebanken Møre

Ove T. Ness
AVP Head of Treasury
Emil: Ove.ness@sbm.no

SOURCE: Nordic Investment Bank