25 Mar 2020
EUR 750 million
|Date of agreement:||24 Jan 2019|
|Customer:||Bonum Bank Plc|
|Amount in EUR:||EUR 35 million|
|NACE sector / loan type:||Loan programme|
|Business area:||Financial institutions and SMEs|
The loan has been provided to Bonum Bank for onlending via the POP Bank Group’s member cooperative banks to SMEs and environmental projects in Finland.
The loan programme will mainly finance investments in the SME and the agricultural and forestry sectors.
Bonum Bank Plc is a deposit bank and wholly owned by the POP Bank Alliance Coop, which is the central institution of the Finnish POP Bank Group, an alliance of 26 member cooperative banks. Bonum Bank acts as the Group’s central credit institution, providing liquidity and payment transfer services. The POP Bank Group currently has about 250,000 banking customers and operates 85 branch offices in 60 municipalities in Finland.
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 conform to NIB’s criteria for SMEs.
Projects to be financed through a financial intermediary must fulfil the sustainability requirements defined in NIB’s Sustainability Policy and Guidelines. The POP Banks will take into account NIB’s policies and guidelines when reviewing loan applications.