NIB finances fibre optic broadband investments in Norway
The Nordic Investment Bank (NIB) has signed a 10-year loan agreement with Eidsiva Energi AS to develop the digital infrastructure in Innlandet County during 2022-2024.
The NOK 500 million (EUR 49.73 million) loan will finance investments to increase the number of active fibre optic broadband network clients from 75,000 to approximately 100,000 in Innlandet County by 2024. In total, the additional investments amount to NOK 1,274 million, of which NIB's loan will finance 39%.
The project is an extension of the company’s previous fibre investment programmes, co-financed by NIB, for the rollout of fast fibre optic broadband networks for 2017–2020 and 2020-2021, to reach a target of 75,000 active clients. The scope of the objective has since been increased due to high demand. The fibre penetration in Innlandet County is among the lowest in Norway. The project has contributed to Norway’s national digital strategy of providing a minimum of 100 Mbit/s broadband connections to 90% of all households by 2020.
“The importance of access to fast broadband networks has become even more evident during the Covid-19 pandemic, notably for enabling distance work and thus keeping the economy going,” says André Küüsvek, President and CEO of NIB.
Eidsiva Energi AS is Norway’s largest electrical grid company and has been a customer of NIB since 2007. The company holds a 42.8% ownership stake in the power production company Hafslund E-CO Vannkraft. Eidsiva Energi's other business areas include fibre broadband and district heating. The company operates its broadband and fibre business via two subsidiaries: the wholly owned Eidsiva Fiberinvest AS and the 90.1%-owned Eidsiva Bredbånd AS. Eidsiva is 50% owned by Hafslund AS, while Innlandet Energi Holding AS owns 49.41%, and the Municipality of Åmot owns the remainder.
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 Patrik Marckert, Senior Banker, at +358 10 618 0266, patrik.marckert@nib.int
Mr Arild Moen, Communications Manager, at +358 10 618 0496, arild.moen@nib.int
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