Home » Nordic Investment Bank and Estonia’s AS LHV to provide 20 million euro for SMEs in Estonia
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Nordic Investment Bank and Estonia’s AS LHV to provide 20 million euro for SMEs in Estonia

The Nordic Investment Bank (NIB) and Estonia’s AS LHV Pank have signed an agreement to launch a 20 million euro loan program for onlending to small and medium-sized enterprises (SMEs) in Estonia.

The funds under the five-year loan program will be on lent for various SME investments. The loan allocations are expected to fulfil the eligibility criteria for a good rating for loan programs to SMEs. As a segment, SMEs produce approximately three quarters of the total added value of Estonia’s economy, which is more than the EU average, NIB said in a press release.

AS LHV Pank is part of AS LHV Group, a financial group established in 1999. LHV is the largest domestically owned banking group and the fourth largest in terms of assets in Estonia. The bank has a strong focus on lending to SMEs in sectors such as real estate, financial services, manufacturing, and transport and logistics.

NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.

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