NORWAY - Government supports Argentum with NOK 2bn

The Norwegian government yesterday presented its fiscal stimulus package. Of the NOK 20bn package, the Ministry of Trade and Industry has allocated NOK 2bn to Argentum, the only investor in Norway that exclusively invests into private equity and venture capital funds.

Additionally, the package includes extra funds for Innovation Norway, a state-owned fund supporting industrial development, as well as increased borrowing limits and tax reductions for companies.

Other areas the government is prioritising are muncipalities, construction and communications. Municipal budgets will be increased by NOK 6.4bn to renovate and build schools, nrusing homes and churches, the Minister of Transport and Communications announced. A further NOK 3.8bn is earmarked railways, roads and harbours, while new construction projects receives NOK 2.8bn in support.

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