NIB finances road tunnel record in northern Norway

NIB has signed a EUR 41.5 million loan agreement with Helgeland Veiutvikling AS to finance a record long road tunnel in Helgeland, northern Norway.

The 17-year-maturity loan is earmarked for the construction of a 35 kilometer new road, including a record long road tunnel of 10.7 kilometre, connecting main highway E6 with the coastal area. The new road, which replaces the frequently weather exposed county road 78, will shorten driving distances significantly. It will also enhance competetiveness for the regional fishing, petroleum and dairy industries.

“NIB’s loan to Helgeland Veiutvikling ensures an important boost that links Helgeland together, as good infrastructure is essential for dynamic countryside development,” says Henrik Normann, NIB President & CEO.

Helgeland Veiutvikling is a regional non-profit, special purpose vehicle (SPV) owned by, municipalities in Helgeland, Nordland County and local banks. The SPV has been established to finance road projects in the region as well as to collect road tolls.

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.

For further information, please contact

Mr Stefan Jon Fridriksson, Senior Manager, Originaton, at +358 50 311 1050,
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Mr Dan-Roald Steinnes, Communications Unit, at +358 10 618 0399,
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