ANNOUNCEMENT 22 Mar 2018

In March 2018, the Nordic Investment Bank (NIB) signed a credit line agreement with SG Finans AS to support Small and Medium Enterprises (SMEs) in Norway.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

The Nordic Investment Bank, agreed loans, Norway. SG Finans AS: https://www.nib.int/what_we_offer/agreed_loans/620/sg_finans_as
The Nordic Investment Bank, press release of 22 March 2018, NIB and SG Finans launch third SME leasing facility in Norway, partly Arctic: https://www.nib.int/who_we_are/news_and_media/news_press_releases/2281/nib_and_sg_finans_launch_third_sme_leasing_facility_in_norway_partly_arctic
The Nordic Investment Bank, Questions & answers: https://www.nib.int/who_we_are/q_a

Inception date: 22 Mar 2019 | Removal date: open ended

State loan

On 22 March 2018, the Nordic Investment Bank (NIB) and SG Finans AS signed a credit line agreement having a total value of EUR 150 million (approx. USD 185 million). The maturity of the credit line is 5 years. 

The credit line agreement will, through SG Finans AS, finance Small and Medium Enterprises' (SMEs) cost related to leasing equipement.

In this context, the NIB president and CEO Henrik Normann stated: "NIB highly values the cooperation with SG Finans in reaching out to the SME sector in Norway, including the country’s Arctic region. This partnership is appreciated by all involved stakeholders, and it proves efficient in alleviating financing constraints that many small businesses experience in their growth"

The NIB is an international financing bank and is jointly owned by Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The bank provides financing to private and public projects mainly located in the eight countries at attractive conditions. The eligibility criteria of NIB financing is that: "All projects financed by NIB should improve competitiveness and/or the environment, in accordance with NIB's mandate and eligibility criteria. Furthermore, outside the membership area, projects financed by NIB should be of mutual interest to the country of the borrower and the member countries." 

A state act in the GTA database is assessed solely in terms of the extent to which its implementation affects foreign commercial interests. On this metric, the investment support granted here is discriminatory.

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