About Us

KBN provides loans to municipalities, county authorities and companies backed by municipal guarantees that deliver local public services. Our ambition is to contribute to sustainable social development.

KBN is wholly owned by the Norwegian state. Established in 1927, KBN is today the largest lender to Norway’s local government sector.

Financing Tomorrow’s Local Communities

KBN holds a strong market position and aims to use it to promote local communities that are economically, socially and environmentally sustainable. We encourage municipalities to make forward-looking investment decisions and offer slightly lower interest rates on loans for projects with clear climate ambitions.

We also invest in sharing knowledge about climate change and climate risk, as well as interest rates, economics and debt management, with elected representatives and municipal administrations.

One of Norway’s Largest Borrowers

KBN finances its lending to the local government sector by borrowing directly in the capital markets. Today, KBN is one of the largest Norwegian borrowers in the international capital markets, with an annual funding requirement of around NOK 100 billion.

KBN’s green bonds finance low-emission solutions and climate adaptation measures in Norway’s local government sector. We have more than ten years of experience as a green bond issuer.

AAA Rating

KBN maintains a conservative risk profile and is one of the few financial institutions in the world with a AAA credit rating. KBN has never incurred a loss on its lending activities.

As a state-owned company with a public mandate, a strong capital base, sound operations and a low risk appetite, KBN holds the highest possible credit ratings from Standard & Poor’s and Moody’s.