31.08.2023 | News
To support green investment, NIB has provided a EUR 25-million loan to Nefco for financing environmentally sustainable SMEs.
The new EUR 25-million loan from the Nordic Investment Bank (NIB) is dedicated to financing Nordic green small and medium-sized enterprises (SMEs). This nine-year loan will significantly increase Nefco’s capacity to promote environmentally sustainable SMEs and it provides an opportunity for it to strengthen its commitment to supporting the green transition to drive long-term economic growth.
“We fulfil our task to accelerate the green transition by financing the initial scale-up of Nordic green solutions and technologies that have the potential to grow on global markets. Nefco’s Nordic SME financing has increased substantially in recent years and the current market situation makes Nefco even more relevant for many growth companies. We are excited about this collaboration with NIB and believe that we can achieve significant impacts together,” says Trond Moe, Managing Director, Nefco.
At the end of 2022, Nefco’s active SME portfolio consisted of 202 projects, and its allocated investments and funds amounted to a total of EUR 140.8 million, representing 48.8% of Nefco’s total active portfolio. Nefco’s financing focuses on three main areas: 1) Green transition of Nordic SMEs, 2) Green transition of municipal projects in Eastern Europe and 3) Special funds for international initiatives. With regard to Nordic SMEs, Nefco finances the scale-up of green technologies on international markets by providing risk financing.
“As partners, NIB and Nefco are committed to driving positive change and promoting sustainable development in the Nordic and Baltic region. Our joint efforts to provide financing to SMEs for green growth projects reflect our shared values and commitment to a sustainable future. We are proud to support Nefco’s strategy and look forward to continuing our partnership to promote the green transition in the region,” says André Küüsvek, NIB President and CEO.
For further information, please contact:
Thor Thorsteinsson, VP, Nordic SMEs, Nefco
+358 10 618 0657, thor.thorsteinsson@nefco.int
Anni Rein, Communications Manager, Nefco
+358 40 7504740, anni.rein@nefco.int
Jim Dahlström, Senior Banker, NIB
+358 10 618 0334, Jim.Dahlstrom@nib.int
David B. Rasmusson, Communications, NIB
+358 50 476 3071, David.Rasmusson@nib.int
About NIB
NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s. www.nib.int