ANNOUNCEMENT 16 Jan 2020

In January 2020, the Nordic Investment Bank (NIB) signed a loan agreement with Novozymes A/S to finance its 2019 research and development activities related to enzymes.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

The Nordic Investment Bank, agreed loans, Denmark. Novozymes A/S, 16 January 2020: https://www.nib.int/what_we_offer/agreed_loans/724/novozymes_a_s
Novozymes A/S: https://www.novozymes.com/en/about-us
The Nordic Investment Bank, Questions & answers: https://www.nib.int/who_we_are/q_a

Inception date: 16 Jan 2020 | Removal date: open ended
Still in force

State loan

On 16 January 2020, the Nordic Investment Bank (NIB) and Novozymes A/S signed a loan agreement having a total value of DKK 750 million (approx. USD 835.3 million). The maturity of the loan is 10 years. 

The loan will support the company's 2019 research and development activities in the area of general biotechnology as well as food and beverages platforms, bio-agriculture and household care. Notably, this is the third loan granted to the Danish company since 2009, see related state acts. 

Novozymes A/S has its headquarters in Denmark and is a producer of microorganisms and industrial enzymes. The company holds a 48% market share in industrial enzymes and sells its products to 130 countries around the world.

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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