A new seven-year loan programme has been signed by NIB and Iceland’s Landsbankinn hf. - the largest universal bank in the country. USD $75 million (EUR 66.5 million) will provide financing for small and medium-sized enterprises (SMEs) and environmental projects in Iceland.

The fishing industry, real estate and tourism are three of several sectors that the programme plans to finance. Individual allocations of the funds in the facility will be selected based on how well they conform to NIB’s mission to improve the competitiveness and environment of the Bank’s member countries, according to NIB.

As the second loan programme NIB has provided to Landsbankinn, the funds of the first facility, agreed in 2015, have been allocated in line with NIB’s mandate.