Denmark. Ringkjøbing Landbobank A/S
| Date of agreement: | 29 Jun 2023 |
|---|---|
| Country: | Denmark |
| Customer: | Ringkjøbing Landbobank A/S |
| Amount in DKK: | DKK 500 million |
| Amount in EUR: | EUR 67.1 million |
| Maturity: | 10 years |
Project
The loan has been provided for Ringkjøbing Landbobank AS (RLB) for on-lending to environmental projects, SMEs and SMCs in Denmark.
A substantial part of the loan is expected to be allocated to renewable energy projects.
Established in 1886, Ringkjøbing Landbobank is a Danish regional and niche bank with branches in central, western and northern Jutland, Copenhagen and Aarhus.
Fulfilment of NIB's mandate
Productivity:
Widespread economic research suggests that SMEs generally face greater challenges in accessing finance than larger enterprises. Access to finance is a significant concern for SMEs because they tend to rely more heavily on bank financing than larger companies, which have other financing instruments available. Therefore, a loan programme aimed at companies of smaller size will improve their access to finance, therefore strengthening their overall growth and productivity developments.
Environment:
The objective of this loan program is to allocate a significant portion of the funds to environmental projects, with a strong focus on renewable initiatives such as wind, solar, and potentially biogas.
Sustainability summary
The borrower will be responsible for ensuring that the sub-projects meet NIB’s mandate criteria and submitting monitoring reports annually to NIB.
