The Norwegian Government proposes new loan and guarantee schemes

| Insight

On 15 March 2020, the Norwegian government presented their proposal for new loan and guarantee schemes in the total amount of NOK 100 billion, to strengthen Norwegian companies' liquidity during the Covid-19 outbreak.

The proposal includes:

  • A NOK 50 billion funding which will be applied to issue guarantees in favour of banks as security for new loans granted to small and medium sized companies. The Norwegian Ministry of Finance is currently in discussions with the banks on how to best structure the guarantee scheme, including how it should be administrated and supervised.
  • Re-establishment of the Norwegian Governmental Bond Fund with a funding of NOK 50 billion. The fund will be managed by the Norwegian National Insurance Scheme Fund.

The proposal will formally be adopted by the Norwegian parliament. The government is currently working on the further details of the proposal which will be presented to the Norwegian parliament as soon as possible.

Simonsen Vogt Wiig follows the development of Covid-19 closely. We have established cross-functional task forces available at all times across all our offices. On this page we have collected all our updates on the Covid-19 outbreak.