ANNOUNCEMENT 26 Sep 2019

In September 2019, the Nordic Investment Bank (NIB) signed a loan agreement with DLF Seeds. The loan will, through its subsidiary MariboHilleshög, support the company's R&D project concerning the development of higher quality and more efficient sugar beet seeds.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

The Nordic Investment Bank, agreed loans, Denmark. DLF Seeds: https://www.nib.int/what_we_offer/agreed_loans/694/dlf_seeds
The Nordic Investment Bank, press release of 2 October 2019, NIB funds Danish research into sugar beet: https://www.nib.int/who_we_are/news_and_media/news_press_releases/3323/nib_funds_danish_research_into_sugar_beet
The Nordic Investment Bank, Questions & answers: https://www.nib.int/who_we_are/q_a
DHL Seeds: https://www.dlf.com/about-dlf

Inception date: 26 Sep 2019 | Removal date: open ended

State loan

On 26 September 2019, the Nordic Investment Bank (NIB) and DLF Seeds signed a loan agreement having a total value of DKK 125 million (approx. USD 18.3 million). Through the company's subsidiary MariboHilleshög, the loan will support certain R&D activities related to the development of more efficient and higher quality sugar beet seeds. The R&D project especially has a focus on developing seeds which are more resilient to diseases and insects.  The maturity of the loan is 5 years. 

DLF Seeds has its headquarters in Denmark and is present in 22 countries around the world. The company is a provider of "forage and amenity seeds, and other crops." According t the company, they have a 50% market share in Europe with a 30% market share worldwide. 

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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