Norway. Sparebanken Sør
| Date of agreement: | 29 Aug 2018 |
|---|---|
| Country: | Norway |
| Customer: | Sparebanken Sør |
| Amount in NOK: | NOK 1,000 million |
| Amount in EUR: | EUR 105.2 million |
| Maturity: | 7 years |
| NACE sector / loan type: | Loan programme |
Project
The loan programme will be used for onlending to small and medium-sized enterprises (SMEs) and environmental projects in southern Norway. The majority of the projects financed under the facility are expected to be investments in new real estate, machinery and equipment in the SME sector.
This is the second loan facility agreed by Sparebanken Sør and NIB; the first was signed in 2017 and is successfully allocated to SME’s projects.
Sparebanken Sør is the sixth largest savings bank in Norway in terms of total assets. The bank was established after a merger between Sparebanken Pluss and Sparebanken Sør in 2014. The bank provides financial services in the regions of Vest-Agder, Aust-Agder, Telemark and Rogaland. Corporate customers account for about 35% of the bank’s loan book. The most important sectors are real estate, including property management and social services.
Fulfilment of NIB's mandate
The loan facility is expected to alleviate credit constraints for small and medium-sized companies and to support small-scale environmental projects. Projects to be founded should fulfil NIB’s criteria for SME lending.
Sustainability summary
Projects to be financed through a financial intermediary must fulfil the sustainability requirements defined in NIB’s Sustainability Policy and Guidelines.
