Norway’s new Covid-19 bond fund makes first investments

Norway has restored its rescue bond fund from the financial crisis by providing NOK 50 billion to help Norwegian companies amid the Covid-19-crisis. The fund made its first investments shortly after state asset manager Folketrygdfondet took over responsibility for the restored fund.

Kjetil Houg, Folketrygdfondet’s chief executive officer. | Photo: PR/Folketrygdfondet

Nearly a month ago, the Norwegian government decided to set up a sovereign wealth fund of NOK 50 billion (EUR 4.46 billion) to help Norwegian companies struggling to deal with the effects of the Covid-19 outbreak. Already less than two weeks later, the fund made its first investments, reports investor media Ipe. 

Norwegian state asset management company Folketrygdfondet was assigned the task in mid-March, reprising the bond fund which helped Norway cope with the 2008 financial crisis. 

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