Norwegian mixed credit portfolio at brink of collapse

Business February 03, 2009

As Sweden launches a new, streamlined untied mixed credit scheme for project financing, Norway is closing down its troubled scheme. Norwegian politicians have not dealt with obvious imperfections in the system. As the scheme winds down authorities may still have to fix the problems.

Projects worth hundreds of millions of crowns have piled up at the Norwegian aid agency, Norad. It is uncertain whether they will ever be implemented.

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