NIB finances energy-efficiency in private homes and housing companies

A loan from NIB amounting to EUR 12 million to the Mortgage Society of Finland (Suomen Hypoteekkiyhdistys) will support energy-efficiency projects in private households and housing companies.

The Mortgage Society acts as an intermediary bank and will lend the funds from NIB to private households and housing companies for renovation projects that improve energy-efficiency. The projects might include, for example, beginning to use heat pumps or ground heat, thus helping to reduce emissions to the air. Moreover, the projects may concern implementing renewable energy by, for example, changing to pellet heating or installing small-scale wind power or solar panels.

“By directing funds to private households via intermediary banks as the Mortgage Society, NIB reaches smaller investments that, put together, have a big positive impact on the environment. Improved energy-efficiency is an efficient way of decreasing greenhouse gas emissions,” says Johnny Åkerholm, President and CEO of NIB.

NIB’s loan will put special focus on environmental investments in the Mortgage Society’s lending.

“Greater and greater environmental requirements are being set for housing. The loan programme to be carried out with NIB enables more diverse housing financing services for Finnish households and housing companies,” says Matti Inha, Managing Director of the Mortgage Society of Finland.

The loan agreement between NIB and the Mortgage Society was signed on 12 May 2010. Environmental loans are already available from the Mortgage Society.

NIB is the common international financial institution of the eight Nordic and Baltic countries. NIB provides long-term financing to the energy, environmental, transport, logistics and communications, and innovation sectors for projects that strengthen competitiveness and enhance the environment. NIB has the highest possible credit rating, AAA/aaa, with the leading rating agencies Standard & Poor’s and Moody’s.

Established in 1860, the Mortgage Society of Finland is the oldest national and independent credit institution in Finland. The Mortgage Society is a mutual company that is owned by its shareholders, is independent of all banks and insurance companies and is only specialised in housing financing. According to its financial statements as of 31 December 2009, the Mortgage Society’s balance sheet totalled EUR 703 million, its capital adequacy was 17.5%, the loan portfolio stood at EUR 515 million and operating profit was EUR 3.0 million. Mortgage Society – Better housing. Safely.

For further information, please contact

NIB

Kim Krokfors, Senior Manager, at +358 10 618 0517 or

Linda Lindfors, Communications Specialist, at +358 10 618 0299 or

Mortgage Society of Finland

Ari Pauna, Chief Operating Officer, at +358 50 3534 690 or