All agreed loans

Finland. SEB Leasing Oy

Date of agreement: 24 Aug 2011
Country: Finland
Customer: SEB Leasing Oy
Amount in EUR: EUR 16 million
Maturity: 15 years
NACE sector / loan type: Collection, purification and distribution of water
Business area: Energy and water

Project

The 15-year-maturity loan totalling EUR 16 million has been provided for financing the acquisition of equipment to be leased to Turun Seudun Vesi Oy for a Managed Aquifer Recharge (MAR) project, which was signed 6 June 2011.  The artificial recharge project of the Virttaankangas aquifer is a solution implemented by Turun Seudun Vesi in order to safeguard the water supply for seven municipalities with about 290,000 inhabitants.

Fulfilment of NIB's mandate

Clean drinking water and a secure supply of water are key elements in the local economy of the Turku region and one of the most important cornerstones in building and maintaining a competitive economy.

Sustainability summary

This is a project with a potentially extensive environmental and/or social impact (category A, read more)

The key environmental issue relates to the long-term changes in the groundwater quality in the Virttaankangas esker area. The quality of infiltrated water is regulated by EU directive 2006/118/EU. As artificial and natural groundwater mix over time, the quality of the groundwater will inevitably change. However, artificial groundwater will not significantly differ from natural groundwater and thus all groundwater resources in the Virttaakangas esker area will remain potable.