NIB opens temporary lending facility to support liquidity
(Thomson Reuters ONE) -
The Nordic Investment Bank (NIB) will temporarily increase its lending
activities in response to the effects of the financial crisis in its member
countries. A new lending facility, the NIB Refinancing Facility (NRF), of EUR
500 million has been created for this purpose.
"The economic and financial crisis has adversely affected the supply of credit
in the Nordic-Baltic region. The consequences are felt especially in NIB's focus
sectors, which are vital for long-term sustainable growth. In this situation,
institutions such as NIB, which continue to have good access to funding, can
provide an important, complementary role in maintaining critical financing
flows," says Johnny Åkerholm, NIB President and CEO.
The NIB Refinancing Facility is aimed at member country borrowers. Loans would
be targeted at counterparts which have refinancing needs for recently completed
projects. Loans under the facility will be made on normal terms but the
maturities can be shorter, starting from three years and up.
Loans would be granted within the mandate and risk framework of the Bank. The
mandate fulfilment is enhanced by the support that the facility provides to
counterparts facing constraints in obtaining similar financing from other
sources. Loans may be provided directly by NIB or through intermediary banks.
The Nordic Investment Bank (NIB) is the common international financial
institution of the eight Nordic and Baltic countries. NIB provides long-term
financing to the energy, environmental, transport, logistics and communications,
and innovation sectors for projects that strengthen competitiveness and enhance
the environment. NIB has the highest possible credit rating, AAA/aaa, with the
leading rating agencies Standard & Poor's and Moody's.
For further information, please contact
Harro Pitkänen, Senior Director, Acting Head of Lending, at +
358 10 618 0246,harro.pitkanen(at)nib.int
Jukka Ahonen, Director, Head of Communications, at
+358 10 618 0295,jukka.ahonen(at)nib.int
This announcement is distributed by Thomson Reuters on behalf of
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originality of the information contained therein.
Source: NIB NORDIC INVESTMENT BANK via Thomson Reuters ONE
[HUG#1571997]
Unternehmensinformation / Kurzprofil:
Datum: 16.12.2011 - 13:00 Uhr
Sprache: Deutsch
News-ID 97920
Anzahl Zeichen: 2810
contact information:
Town:
Helsinki
Kategorie:
Business News
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"NIB opens temporary lending facility to support liquidity"
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