The EIB and SG Finans announce the launch of a EUR 90 million credit line for projects in Norway. While 70% of the funding is earmarked for Climate Action projects, the agreement also foresees that a minimum of 30% of the available funding will be channelled to projects in the SME sector. The EIB-financing will allow eligible clients to receive a reduction on their interest rate, which is especially relevant for business hit hard by the corona crisis. Eligible clients will receive a reduction on their interest rate provided by European Investment Bank.
The EIB and SG Finans, part of Societe Generale Equiment Finance, have signed a NOK 1.73 billion (EUR 180 million) credit line to support low-carbon transport modes and equipment leasing to small and medium-sized enterprises (SMEs), mid-caps and public and private sector entities in Norway. In view of the climate commitment of both entities, 70% of the loan will be earmarked to support investments in climate friendly transport projects.
During an official visit to Iceland, EIB Vice-President Andrew McDowell announced the extension and expansion of the Bank’s “EFTA Facility” under which it invests in the four EFTA countries; Iceland, Norway, Switzerland and Liechtenstein. The investment envelope will be extended with a further four years and receive a top-up of EUR 1 billion, available as EIB loans in all four countries.