Nordic Investment Bank loans for energy transition projects

In 2023, the Nordic Investment Bank (a regional public development bank funded by Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden) approved a strategy to allocate the equivalent of USD 325 million to energy transition projects, backed by the European Union. In 2024, it signed a 7-year loan of around USD 50 million for hydrogen-powered and electric boats; and 12-year loans of around and USD 60 million for hydrogen-based steel production (alongside investment by the EIB).

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