NOK 40 million more for activity and development in Eastern Finnmark
This year's package totals NOK 105 million. Of this, the government is allocating NOK 20 million to our innovation loan scheme. This means that the potential lending limit for innovation loans earmarked for Eastern Finnmark will increase by NOK 40 million.
Innovation loans can finance strong restructuring projects that create commercially viable businesses and deliver value to society. They are most often used for projects involving restructuring, commercialisation, internationalisation and growth. Regional loans also enable businesses to invest in buildings, equipment and machinery.
We base our initiatives on dialogue with local stakeholders
The measures are a response to Russia's war of aggression against Ukraine. 'We see that people and businesses in Eastern Finnmark have been particularly hard hit,' said Prime Minister Jonas Gahr Støre when he announced the package. The measures were developed through dialogue with local authorities, employers' and workers' representatives, and businesses in Eastern Finnmark to support development and activity.
'We are pleased that the innovation loan scheme has received additional funding. This type of loan capital is in short supply in the region,' says Håkon Haugli. 'These loans can be effective when combined with many of our other services and loans from the commercial market. I know our people are ready to support projects that increase value creation, encourage people to settle in the region and create jobs.'
The government will also provide an additional NOK 20 million to municipal business development funds. These funds are particularly important for the transformation of the business sector in Eastern Finnmark. The package of measures is the result of ongoing negotiations on the revised national budget.