1 Apr 2020
EUR 88.52 million
Infrastructure, transportation and telecom
|Date of agreement:||20 Sep 2013|
|Amount in SEK:||SEK 170 million|
|Amount in EUR:||EUR 19.8 million|
|NACE sector / loan type:||Loan programme|
|Business area:||Financial institutions and SMEs|
The loan facility has been established for onlending to small and medium-sized enterprises (SMEs) and environmental investments with the purpose of decreasing greenhouse gas emissions and producing positive environmental impacts. Projects eligible for financing under the loan facility should fulfil NIB’s mandate and focus on investments in tangible capital such as machinery and equipment, R&D or ICT.
Established in 1852, Sparbanken Nord is a regional bank operating in northern Sweden. It has 14 branches in ten different municipalities and is the third largest independent savings bank in the country. Roughly, two thirds of the Bank’s lending comprises loans to households and individuals.
Competitiveness: The loan programme is intended for the alleviation of credit constraints, which have been identified as a comparative disadvantage for SMEs, and thereby facilitate productivity growth. Given that SMEs are responsible for a considerable share of aggregate output and employment in NIB’s member area, improved access to financing that raises productivity can increase competition and efficiency in the market.
Environment: The environmental mandate rating is given for the environmental allocations in the loan programme. Eligible allocations are in predefined project categories and lead to either a decrease in CO2 emissions or a decrease in nutrient discharges into the Baltic Sea.
Sparbanken Nord will ensure that all necessary project-related permits are in place prior to loan allocations. Sparbanken Nord is to assess the environmental and social aspects of its onlending business in accordance with NIB’s Sustainability Policy and Guidelines.