NIB provides EUR-60m loan for environmental projects in Denmark

Wind turbines on the coast, Denmark. Author: Tambako The Jaguar. License: Creative Commons, Attribution-NoDerivs 2.0 Generic

Finland-based and Nordic Investment Bank (NIB) on Monday said it has signed a EUR-60-million (USD 67.8m) loan agreement with Denmark's Ringkjøbing Landbobank (RLB) to finance environmental projects in Denmark.

According to RLB, up to 75% of the ten-year loan could be allocated to renewable energy projects. The bank has seen interest in investment in wind power as well as in biogas made from waste materials.

NIB and RLB have been partnering in providing financing for small and medium-sized companies and environmental projects since 1999.

"We see this cooperation as a great opportunity and a vital link in reaching out to smaller businesses in Denmark," NIB president Henrik Normann commented.

(EUR 1.0 = USD 1.130)

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