All agreed loans

Norway. SpareBank 1 Østlandet

Date of agreement: 14 Mar 2019
Country: Norway
Customer: SpareBank 1 Østlandet
Amount in NOK: NOK 1,000 million
Amount in EUR: EUR 102.26 million
Maturity: 6 years
NACE sector / loan type: Loan programme
Business area: Financial institutions and SMEs

Project

The loan has been provided to SpareBank 1 Østlandet (SBØ) for onlending to small and medium-sized enterprises (SMEs) and environmental projects in Norway.

SBØ provides traditional banking, leasing, accounting and real estate brokerage services. Eligible investments under the loan facility include projects in the transportation and forestry sectors, purchasing of industrial and construction machinery, as well as IT equipment.

Environmental projects, such as energy efficiency investments and green buildings, are also eligible for financing.

This is the fourth loan programme agreed between NIB and SpareBank 1 Østlandet since 2004.

SpareBank 1 Østlandet is Norway’s fourth-largest savings bank and is headquartered in Hamar. The bank operates 37 branches and serves approximately 337,000 customers in the counties of Hedmark, Oppland, Oslo and Akershus.

Fulfilment of NIB's mandate

The loan programme is expected to alleviate credit constraints and to facilitate productivity growth for small and medium-sized companies. Further, the facility supports onlending to environmental projects. Companies eligible for financing under the loan facility are required to comply with NIB’s criteria for SME lending.

Sustainability summary

Projects that are financed through a financial intermediary are required to fulfil the sustainability requirements defined in NIB’s Sustainability Policy and Guidelines. SBØ will ensure that necessary environmental permits and concessions are in place for each of the financed projects.

Press release

NIB og SpareBank 1 Østlandet signerer nytt låneprogram