Norwegian Investors to Help Iceland’s Economy Skip to content

Norwegian Investors to Help Iceland’s Economy

A group of Norwegian investors under the lead of Endre Roesjoe want to dedicate ISK 20 billion (USD 159 million, EUR 101 million) to long-term investments in Iceland. Roesjoe has met with the representatives of the Icelandic pension funds, discussing their cooperation on this matter.

Copyright: Icelandic Photo Agency.

The idea is for the Norwegian investors and the Icelandic pension funds to establish a special investment fund, with the pension funds contributing ISK 20 billion to the fund in addition to the contribution from the Norwegian investors, Morgunbladid reports.

“Svein Harald Oeygard, the former Central Bank governor, invited me to Iceland in April,” Roesjoe said. “His intention was to lead together investors to invest in Icelandic companies and contribute to the reconstruction of the Icelandic economy.”

Roesjoe has decades of experience as an investor and has invested in various fields.

Hrafn Magnússon, managing director of the Icelandic Pension Funds Association (IPFA), met with Roesjoe on Friday. The meeting was also attended by the representatives of two large pension funds, Oeygard and Ingjald Oerbeck Soerheim, a Norwegian lawyer and a man of influence within the Norwegian ruling party, Arbeiderpartiet.

“We consider it very interesting to cooperate with the Norwegians on their participation in the restoration process because it is necessary to get foreign capital into the country, especially from our friends in the Nordic countries,” Magnússon stated.

Roesjoe himself is considering contributing NOK 50 to 60 million (USD 8.4 to 10.1 million, EUR 5.3 to 6.4 million) to MP Bank in the form of new capital stock. He said he shares the values with the bank’s owners who invested in savings bonds early last year and thereby secured a soft landing in the banking collapse.

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