🇫🇮 NIB signs its first defence loan with Savox Communications in Finland
The Nordic Investment Bank (NIB) and Finnish Savox Communications Oy have agreed a 5-year EUR 5 million investment loan to finance Savox’s defence-related research and development expenditure until the end of 2026.
Savox Communications is NIB’s first defence-related borrower since the Bank revised its Sustainability Policy exclusion list last year to allow defence financing, excluding weapons and ammunition.
The funding further strengthens Savox’s position in the field of wireless communication and integrated data solutions. At the heart of this capability are rugged, modular communication systems ensuring seamless situational awareness in all operational environments.
“This R&D loan marks a strategic milestone as NIB enters defence industry financing for the first time since we revised our policies. We see financing expertise in this area as essential to strengthening the NB8 region’s resilience and long-term security,” says André Küüsvek, NIB President & CEO.
“We are very pleased with NIB’s approach and how seamlessly our collaboration has taken place. This funding will be used to accelerate the development of next-generation data solutions for the defence sector. It is significant that NIB has identified the defence sector as a strategic area of focus. This support contributes to the internationalisation of both Finnish and Nordic defence industries and enhances the defence capabilities of our region,” says Jerry Kettunen, CEO of Savox Communications.
Savox Communications was founded in 1982 and is headquartered in Finland. Today, Savox employs over 300 people worldwide. Savox specialises in communication solutions and personal protective equipment for critical environments.
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 S&P Global’s and Moody’s. Read more at www.nib.int.
For further information, please contact
Patrick Nylund, Senior Banker, at +358 10 618 0329, pa************@*ib.int
Iiris Anttalainen, Communications unit, at +358 10 618 0257, ii***************@*ib.int
Originally published on 5 May by Nordic Investment Bank.
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