Nordic Investment Bank (NIB) and Deutsche Leasing Sverige AB have launched a €20 million facility to finance equipment leasing for small and medium-sized enterprises (SMEs) and small mid-caps in NIB’s member countries.

NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The bank cooperates with intermediary financial services providers in the region.

The facility has a maturity of five years and, according to NIB, is expected to alleviate credit constraints and facilitate productivity growth. Improved access to financing for projects that raise productivity can increase competitive pressure and efficiency in the markets.

Deutsche Leasing Sverige, a member of the Deutsche Leasing Group, provides leasing services in Sweden as well as in Denmark, Finland and Norway. SMEs account for 80% of the company’s customers and mid-caps for 20%.