NIB and Sparebanken Møre fund SME investments in western Norway

NIB and Sparebanken Møre fund SME investments in western Norway

NIB and Sparebanken Møre fund SME investments in western Norway

The FINANCIAL -- NIB and the Norwegian savings bank Sparebanken Møre have launched a NOK 500 million (EUR 53.8 million) loan facility for onlending to small and medium-sized enterprises (SMEs) and small mid-caps as well as environmental projects in the county of Møre og Romsdal in western Norway.

The five-year loan programme will finance SMEs and small mid-cap investments in various sectors, for instance, real estate, fishing, services and offshore supply, as well as projects aimed at environmental improvements, according to NIB.

“NIB is expanding the network of its cooperation partners among intermediary banks in the Nordic countries. Cooperation with Sparebanken Møre is key to reaching out to small businesses in the area serviced by this savings bank”, says Henrik Normann, NIB President & CEO.

Established in 1985, Sparebanken Møre has 170,000 customers and operates through 30 branches in 24 municipalities in the county of Møre og Romsdal.