Norway. Sparebanken Sør
|Date of agreement:||29 Jun 2022|
|Amount in NOK:||NOK 1 million|
|Amount in EUR:||EUR 97.58 million|
NIB and Norwegian Sparebanken Sør have agreed a credit facility for onlending to finance investment projects in small and medium-sized enterprises (SMEs) and small mid-cap companies (SMCs) in Norway in alignment NIB’s sustainability requirements.
Sparebanken Sør has been NIB’s customer since 2017.
Sparebanken Sør is the sixth largest savings bank in Norway in terms of total assets. Based in Kristiansand, southern Norway, the regional savings bank has 22,000 corporate customers and 180,000 retail customers. The bank provides financial services in the Southern regions of Norway in the counties of Agder, Rogaland and Vestfold og Telemark.
Fulfilment of NIB's mandate
The loan facility is expected to alleviate credit constraints for small and medium-sized companies, as well as small mid-cap companies. Projects to be founded should fulfil NIB’s criteria for SME and SMC lending.
Projects to be financed through a financial intermediary must fulfil the sustainability requirements defined in NIB’s Sustainability Policy.