Nordic Countries lend Money to Iceland Skip to content

Nordic Countries lend Money to Iceland

The Nordic countries have signed a long term loan contract with the Iceland Central Bank, agreeing to lend to it 1.775 billion Euro, reports. Norway will lend Iceland 480 million Euro.

According to a statement from Norwegian Central Bank, the deal was signed today, as a part of the countries’ support program for Iceland.

Last November, the Norwegian government agreed to grant a loan to Iceland, following a request from Iceland’s Central Bank. The loan is for twelve years, thereof carrying interest for five years. The loan will be paid out in four equal payments, linked to the disbursement of the International Monetary Fund’s loans to Iceland.

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