Sweden. Ikano Bank AB
| Date of agreement: | 11 Dec 2020 |
|---|---|
| Country: | Sweden |
| Customer: | Ikano Bank AB |
| Amount in EUR: | EUR 15 million |
| Maturity: | 5 years |
| NACE sector / loan type: | Loan programme |
Project
The loan has been granted for on-lending to small and medium-sized enterprises (SMEs), smaller mid-caps (SMCs), and environmental projects in Sweden, Denmark, Norway, and Finland.
The programme will finance acquisition of capital equipment in a variety of sectors, including work-related vehicles, IT, manufacturing and production, as well as solar panels.
This is NIB’s third loan facility agreement with Ikano Bank. The first two were signed in 2015 and 2019, respectively.
Ikano Bank AB offers financing solutions and conducts business in the Nordic countries, the UK, Germany, Austria, and Poland.
Fulfilment of NIB's mandate
Leasing finance provides opportunities for SMEs and SMCs to acquire costly equipment. The loan will alleviate credit constraints and facilitate productivity growth. Access to finance in the SME sector is of greater concern than for large enterprises, mainly because SMEs and SMCs are dependent on bank financing. Improved access to financing for projects that raise productivity can increase competitive pressure and efficiency in the markets.
Sustainability summary
Projects that are financed through a financial intermediary are required to fulfil the requirements defined in NIB’s Sustainability Policy and Guidelines.
