Norwegian bank DNB receives EIF guarantee enabling up to NOK 2.5 billion in new lending to SMEs.Transaction backed by the European Union’s InvestEU programme.DNB to support up to 250 companies with loans to accelerate green and digital transitions.Norway’s largest lender DNB Bank ASA is partnering with the European Investment Fund (EIF) to offer a new range of loans to small and medium-sized enterprises (SMEs) in Norway.The EIF guarantee will mobilise loans totalling up to NOK 2.5 billion, enabling DNB to provide customers with access to funding on more favourable terms.The EIF commitment is backed by the InvestEU programme, which aims to stimulate investment, innovation and job creation across Europe with a strong emphasis on sustainability and digitalisation. Through this partnership, DNB will leverage the InvestEU guarantee to provide enhanced loan offerings to Norwegian businesses, supporting investments that align with these critical areas.In addition, DNB will continue its long-standing collaboration with Innovation Norway by participating in their new Guarantee for growth programme, estimated to channel up to NOK 2.9 billion in credits and lending from participating banks.»
Opens opportunities
The InvestEU programme opens up significant opportunities for increased innovation and project development for Norwegian businesses, driving growth and advancement across industries,» said Kjerstin Braathen, chief executive officer of DNB. «We are thrilled to join forces with the EIF under the InvestEU programme. This partnership aligns with our strong commitment to support our customers’ sustainable and digital transition.»The signature ceremony took place on 6 June in Oslo.»The EIF is excited to support DNB in its mission to empower Norwegian SMEs,» said EIF Chief Executive Marjut Falkstedt. «This guarantee underscores our commitment to fostering sustainable growth and digital transformation across Europe. By facilitating access to finance on more favourable terms, we are helping Norwegian businesses to innovate, grow and contribute to a more resilient economy.»EU Ambassador to Norway Nicolas de La Grandville said:»The InvestEU programme is an excellent example of EU-Norway cooperation, and how our joint efforts facilitate the green and digital transitions by enabling growth and innovation. Norway’s participation in the InvestEU programme is made possible by the European Economic Area (EEA) Agreement, which remains instrumental in promoting economic prosperity. We stand by our common commitment to reach a more resilient economy that works for all and a sustainable future.»
Background information
The EIF is part of the European Investment Bank (EIB) Group. It supports Europe’s SMEs by improving their access to finance through a wide range of selected financial intermediaries. The EIF designs, promotes and implements equity and debt financing instruments targeting SMEs. In this role, the EIF fosters EU objectives in support of entrepreneurship, growth, innovation, research and development, the green and digital transitions and employment.The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps mobilise private investments for the European Union’s policy priorities, such as the European Green Deal and the digital transition. The InvestEU programme brings together under one roof the multitude of EU financial instruments currently available to support investment in the European Union, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is implemented through financial partners that will invest in projects using the EU budget guarantee of €26.2 billion. The entire budget guarantee will back the investment projects of the implementing partners, increase their risk-bearing capacity and thus mobilise at least €372 billion in additional investment.DNB is Norway’s largest financial services group and one of the largest in the Nordic region in terms of market capitalisation. The group offers a full range of financial services, including loans, savings, advisory services, insurance and pension products for retail and corporate customers.DNB’s mobile solutions, internet banking services, customer service centres, real estate brokerage and branch offices in Norway and around the world ensure that we are present where our customers are. We are a major operator in a number of industries, for which we also have a Nordic or international strategy. Press contactsEIB Group: Thomas Eriksson | t.eriksson@ext.eib.org
Website: www.eib.org/press | Press Office: press@eib.org
DNB: Stål Garberg | +47 911 90 970 | stal.ulvin.garberg@dnb.noEuropean Union Delegation to Norway: Johanne Stavdal Engh | + 47 93 85 42 65 | johanne-stavdal.engh@eeas.europa.euEuropean Commission: Ignazio Cocchiere | +32 460 76 19 63 | ignazio.cocchiere@ec.europa.eu. Foto: European Investment Bank,
