NIB and the Finnish Fund for Industrial Cooperation Ltd. (Finnfund) have signed a new loan programme of USD 40 million (EUR 35.6 million) for on-lending to sustainable development investments in Finnfund’s target countries.
The ten-year loan facility will support Finnfund’s lending activities in emerging markets and finance projects in sectors such as sustainable forestry, agriculture, and clean energy.
The loan programme enables NIB to support its member country companies in countries where the Bank otherwise is not active and provides Finnfund with long-term funding. The cooperation will also support Nordic growth-oriented companies that are seeking to internationalize their operations.
“This is the fifth loan programme signed between NIB and Finnfund since 2003. Our cooperation aims to support sustainable projects in emerging markets that involve Nordic business or development policy interests, such as technology transfer and equipment deliveries”, says Henrik Normann, NIB President & CEO.
“Co-operation with NIB supports Finnfund’s strategic goal of doubling our investment volume and tripling the impact. The need for investments in sustainable development is enormous and the clock is ticking, not least due to climate change”, says Helena Arlander, Deputy Managing Director of Finnfund.
Original source: NIB
Published on 10 April 2019
