Norway. Sparebanken Øst
| Date of agreement: | 22 Nov 2017 |
|---|---|
| Country: | Norway |
| Customer: | Sparebanken Øst |
| Amount in NOK: | NOK 300 million |
| Amount in EUR: | EUR 31.02 million |
| Maturity: | 10 years |
| NACE sector / loan type: | Loan programme |
This loan contributes to climate change mitigation: 100%
Project
This loan programme will be onlent for passive- and low-energy housing projects, the acquisition of electric or hybrid cars, as well as small and medium-sized enterprises’ (SMEs) investments. The passive- and low-energy housing projects financed from the programme are expected to meet the requirements of the Norwegian voluntary building standard.
Sparebanken Øst is an independent regional savings bank based in Drammen. With its main market area in Buskerud County and Oslo-Akershus area in south-eastern Norway, the bank provides traditional banking services. Retail customers account for 86% of the bank’s loan book and corporate customers, all of them SMEs, for 14%.
Fulfilment of NIB's mandate
The loan programme is expected to alleviate credit constraints for smaller-scale environmental projects and SME investments in the region. The projects to be funded should fulfil NIB’s mandate criteria for SMEs.
Sustainability summary
Within the scope of its credit policy, Sparebanken Øst ensures that the necessary environmental permits are in place for projects selected for financing under this loan programme.
