1 Apr 2020
EUR 88.52 million
Infrastructure, transportation and telecom
|Date of agreement:||15 Nov 2019|
|Amount in NOK:||NOK 300 million|
|Amount in EUR:||EUR 29.73 million|
|NACE sector / loan type:||Loan programme|
|Business area:||Financial institutions and SMEs|
This loan contributes to climate change mitigation: 50%
Arctic Financing Facility (read more): 50%
The loan has been provided to Helgeland Sparebank (HSB) for onlending to environmental projects and small and medium-sized enterprises (SMEs) in northern Norway.
The bank’s SME clients are active in the areas of agriculture, real estate, aquaculture, forestry and transport. Further, HSB has identified potential environmental projects in the fields of renewable energy and waste reduction that are eligible for financing under the programme.
The loan is allocated under NIB’s Arctic Facility.
This is the second lending facility agreed with HSB; the first was signed in 2016 and has been fully allocated.
Helgeland Sparebank is the 11th largest savings bank in Norway. Headquartered in Mo i Rana, the bank operates six branches in the Helgeland region, home to ca. 79,000 inhabitants. The composition of Helgeland Sparebank’s loan book is 67% retail and 33% corporate customers.
The loan programme is expected to support environmental investments in Norway’s Arctic region, and to facilitate productivity growth for small and medium-sized companies. 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. HSB will, within the scope of the bank’s credit process, ensure that necessary environmental permits and concessions are in place for each of the financed projects.