3 Jul 2020
EUR 60 million
Financial institutions and SMEs
|Date of agreement:||19 Jun 2014|
|Amount in EUR:||EUR 30 million|
|NACE sector / loan type:||Loan programme|
|Business area:||Financial institutions and SMEs|
The loan has been provided for on-lending to projects in the SME sector to improve productivity or the environment. Also housing companies and households will be eligible for financing small-scale environmental investments, resulting in energy efficiency or wastewater treatment.
Oulun Osuuspankki will ensure that the loans to the SME sector funded by NIB are allocated to projects that support productivity growth for local companies and the region. The projects to be funded have to involve investments in tangible capital, such as machinery and equipment, production or service provision facilities. Also investments in information and communication technology, software and investments, as well as research and development, are eligible.
Environmental projects eligible for financing will e.g. contribute to decreasing greenhouse gas emissions.
In terms of balance sheet total, Oulun Osuuspankki (Oulun OP) is the third-largest cooperative bank in the OP-Pohjola Group in Finland. The bank’s registered office is in Oulu. At the end of 2013, its balance sheet total stood at EUR 2.5 billion. Oulun OP has 12 branches in six municipalities, in Oulu and its neighbouring localities in Northern Ostrobothnia. The bank provides banking services to both corporate customers and private individuals and is the market leader in its region.
The project is expected to improve access to financing for SMEs when investing in projects aimed at productivity growth.
Eligible allocations will be made to predefined project categories and will lead to decreased greenhouse gas emissions or reduction in discharge of nutrients to the Baltic Sea.