Our commitment in the country is aimed at supporting the Bank’s climate action target.
We provide funding for clean energy, reinforcing the production of hydropower and wind power.
The EIB supports the shift to a low-carbon economy and the transition to a greener future. These projects contribute to low-carbon public transportation, such as electric and bio-fuel powered buses, electric bicycle leasing programmes for smart city mobility initiatives and specialised equipment for the construction and maintenance of rail infrastructure.
In order to do so, we provide loans to small and medium-sized enterprises (SMEs), support the Norwegian economy and help protect the environment, improve competitiveness and provide access to finance at favourable conditions for small businesses, and private and public sector entities in Norway. All of our projects include a significant climate action component.
The EIB also invests in infrastructure development and in projects that play a role in improving people's living standards. For example, we supported NordLink, the first interconnection between Germany and Norway across the North Sea. The interconnector will transport hydropower from Norway to Germany and will enable the exchange of energy between two complementary energy systems. Norwegian hydropower reduces the amount of less eco-friendly production modes in the EU, and the project represents an important milestone for a more climate-friendly and integrated energy system.