The Bank signed an agreement to this effect with the Central Bank of Iceland today. The bridge loans are an element in the Government’s measures to help businesses to weather the economic headwinds caused by the COVID-19 pandemic. The Government will guarantee up to 70% of the amount of the bridge loans, and companies receiving the loans must satisfy specified requirements.
Additional information will be published on Íslandsbanki’s website when further details of the programme have been finalised.
Birna Einarsdóttir, Íslandsbanki Chief Executive Officer:
“It is excellent that agreements are being reached, as it is vital to support Icelandic companies that are experiencing difficulties. Now, with the finalisation of our agreement with the Central Bank, we can move forwards at full speed on the bridge loan programme, so that we can help firms that satisfy the requirements for the programme. We have long said that we want to be a force for good in society, empowering our customers to succeed. And in challenging times like these, our commitment to that goal is more important than ever.”