All agreed loans

Finland. Oulun Osuuspankki

Date of agreement: 17 Dec 2010
Country: Finland
Customer: Oulun Osuuspankki
Amount in EUR: EUR 15 million
Maturity: 10 years
NACE sector / loan type: Loan programme
Business area: Financial institutions and SMEs

This loan contributes to climate change mitigation: 60%
This loan has a positive effect on maritime environments: 40%


The 10-year-maturity loan programme totalling EUR 15 million has been provided for onlending to projects in line with the NIB eligibility criteria, particularly in the areas of energy efficiency and wastewater treatment. The loan facility is aimed at private households, housing companies, SMEs and large corporations.

As agreed with the project sponsor, subloans are to fall into one of the following categories:

1. Projects that reduce or treat wastewater discharges: for instance, discharge from households, buildings, waste discharge stations at marinas.

2. Projects that reduce emissions to water courses: for instance, improved fertiliser and manure handling, the construction of exclusion zones between fields and watercourses.

3. Renovation of existing constructions that either reduce emissions to the air and improve buildings' energy efficiency or replace fossil fuel-based energy with renewable energy: for instance, connection to a district heating system, heat pumps, ground heat, solar panels, changing windows, heat insulation of roofs, walls and floors, connection to a district cooling system, the installation of heat recovery systems.

Oulun Osuuspankki is one of the largest member cooperative banks in Finland's OP-Pohjola Group, which consists of 218 member cooperative banks, and OP-Pohjola Group Central Cooperative, owned by the member banks, along with its subsidiaries and closely related companies. Oulun Osuuspankki is the market leader in the Oulu region, northern Finland.

Sustainability summary

The OP-Pohjola Group is currently developing an environmental programme for each of its group members. The environmental programme includes the development of a climate programme and an environmental action plan.