Sweden. Orusts Sparbank
| Date of agreement: | 27 Sep 2018 |
|---|---|
| Country: | Sweden |
| Customer: | Orusts Sparbank |
| Amount in SEK: | SEK 130 million |
| Amount in EUR: | EUR 12.55 million |
| Maturity: | 5 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 Sweden. The majority of the investments financed under the facility are expected to be in construction, fishing and agriculture as well as hotel and restaurant services on the island of Orust and nearby areas served by the bank.
Orusts Sparbank is the 11th largest savings bank in Sweden. The bank is based on the island of Orust and has approximately 33,000 private customers and 4,000 corporate customers.
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. Companies eligible for financing under the loan facility are required to comply with 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.
