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NIB is a supranational development bank capitalised by Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway, and Sweden, mandated to finance projects that improve productivity and the environment across its member countries. This facility sits under NIB's Arctic Facility, a programme aimed at credit-constrained smaller companies in northern Nordic regions, and channels concessional development-bank credit through a regional retail bank (SpareBank 1 Helgeland) rather than lending directly to end borrowers — a standard NIB onlending structure that extends below-market financing to SMEs that would otherwise face a comparative disadvantage accessing commercial project finance. This is the third such agreement between NIB and the bank, indicating a recurring relationship rather than a one-off transaction.
lowers the cost of capital for SMEs and mid-caps in a credit- constrained Arctic region, part of a broader pattern of Nordic development-bank onlending facilities (see related NIB SME facilities with SpareBank 1 Nord-Norge and SpareBank 1 Østlandet) used to backstop regional SME access to finance outside major Nordic urban centres.
commercial SME lending were not disclosed in the primary source.
each of agriculture, aquaculture, real estate, construction, and environmental projects) was not disclosed.