NORWAY: millions of krona available for fishermen in North Norway (Finmark)

The Finmark County Authority announced last month (8 September 2009) that it had already granted NOK 18.1 million (USD 3.2 million) loans to fishermen from the Finmark’s County Authority Recruitment Fund for Fishermen. The Fund was created in October 2008 with a capital of NOK 38.4 million (USD 6.8 million). It has already handled 34 requests in 2009.

According to the information published in the County Council’s website, the funds are intended for fishermen who are betting on new recruitment and will invest in fishing vessels and quotas.

The loans are granted for an amount ranging from NOK 200,000 to NOK 1.5 million (USD 36,000 to USD 266,000), though it can not be higher than 25 percent of the investment in a single company. The loans are granted with a up to five-year interest-only period and an interest rate that is a percentage of Norges Bank's key rate.

Here is the link to the webpage with the announcement:


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