25 Mar 2020
EUR 750 million
|Date of agreement:||14 Mar 2019|
|Customer:||SpareBank 1 Østlandet|
|Amount in NOK:||NOK 1,000 million|
|Amount in EUR:||EUR 102.26 million|
|NACE sector / loan type:||Loan programme|
|Business area:||Financial institutions and SMEs|
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.
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.
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.