29 Apr 2013

NIB to finance better energy efficiency in Finnish homes

NIB is opening a EUR 7 million loan programme with Finland’s mortgage lending company Suomen Hypoteekkiyhdistys (Hypo) for financing small-scale environmental investments.

The financing facility is set up for individual households and housing companies in their endeavours to improve energy efficiency and achieve positive environmental effects. Eligible environmental investments may, for instance, include the installation of ground heat systems, heat pumps and solar panels, the improvement of insulation and ventilation of buildings. The new facility will also welcome the development of the infrastructure for hybrid cars, such as charging points in car parks.

“We believe that our new loan programme will encourage more households and housing companies in Finland to improve the use of energy in their buildings,” says Henrik Normann, President & CEO of NIB.

“The environmental value and energy efficiency plays an increasingly important role in loan negotiations with our customers both about new and renovated property. We very much appreciate the cooperation between NIB and Hypo which is aimed to improve housing conditions for Finnish households,” says Aija Kontinen, CFO of Suomen Hypoteekkiyhdistys.

The installation of renewable energy solutions is among the most sustainable ways of providing energy to households and apartment buildings. These solutions contribute to cutting down greenhouse gas emissions through crowding out fossil-based energy generation.

Hypo is a mutual company owned by its customer-members. Hypo provides mortgage loans to private individuals and loans to housing companies.

NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.

For further information, please contact
NIB

Ms Taina Ulkoniemi, Senior Manager Origination, at +358 10 618 0231,

Mr Dimitrijs Alehins, Senior Communications Specialist, at +358 10 618 0296,

Suomen Hypoteekkiyhdistys

Elli Reunanen, Vice-President General Banking, tel. +358 9 2283 6208,