Orusts Sparbank
| Date: | 27 Nov 2023 |
|---|---|
| Country: | Sweden |
| Customer: | Orusts Sparbank |
| Amount in SEK: | SEK 150 million |
| Amount in EUR: | EUR 12.7 million |
| Maturity: | 7 years |
| Business sector: | Financial Institutions |
Project
The loan facility will finance investments in SMEs, SMCs, and environmental projects on the island of Orusts and nearby areas served by the bank.
A minimum of 50% of the loan will be dedicated to onlending to environmental projects with the remaining portion to SMEs and SMCs. Orusts Sparbank, having previously received a NIB loan of SEK 130 million, focuses on providing banking services to small companies and private individuals.
The new loan programme aims to support projects in construction, real estate, fishing, agriculture, hotel, and restaurant services, contributing to economic development and employment in the region. Small and medium-sized enterprises play a crucial role in the economic activity and employment in the region, and this loan programme is designed to enhance their access to financing.
Fulfilment of NIB's mandate
The loan facility is expected to alleviate credit constraints for small and medium-sized companies and to support small-scale environmental projects. Companies eligible for financing under the loan facility are required to comply with NIB’s criteria for SME lending.
Sustainability summary
Projects to be financed through a financial intermediary must fulfil the sustainability requirements defined in NIB’s Sustainability Policy and Guidelines.
