Denmark. Sparekassen Faaborg A/S
| Date of agreement: | 15 Mar 2007 |
|---|---|
| Country: | Denmark |
| Customer: | Sparekassen Faaborg A/S |
| Amount in EUR: | EUR 10 million |
| Maturity: | 5 years |
| NACE sector / loan type: | Financial intermediation, except insurance and pension |
Project
The 5-year-maturity loan totalling EUR 10 million has been provided to Sparekassen Faaborg (SF) for further onlending for the activities of small and medium-sized enterprises in environmental farming, wind power production as well as the housing sector (environment and energy) and infrastructure (highway construction). Founded in 1846, SF is a regional savings bank active in southwest Funen. It has 24 branches.
Sustainability summary
Sparekassen Faaborg’s lending for wind power projects, agricultural projects and energy efficient solutions in building projects have positive environmental impacts. The wind power projects are estimated to help achieve a substantial reduction of greenhouse gas emissions, while the investments aiming at reducing the run-off of nutrients would reduce the eutrophication of local water courses and the Baltic Sea. A 75% share of the project qualifies as an environmental investment.