3 Aug 2020
EUR 60 million
Industries and services
NIB and Sparbanken Nord have signed a 7-year-maturity loan agreement, totalling SEK 170 million (EUR 20 million), for onlending to SMEs and for environmental investments in northern Sweden.
The funds will be onlent to local small and medium-sized enterprises (SMEs) in the region, of which most operate as subcontractors in the mining and forestry sectors. The loan facility may also be utilised for investments leading to a reduction in CO2 emissions or a decrease in nutrient discharges into the Baltic Sea. Regional projects eligible for financing could include the construction of wind mills, investments in retail customers’ energy efficiency and wastewater treatment projects.
Established in 1852, Sparbanken Nord is a regional bank operating in northern Sweden. Sparbanken Nord has 14 branches in ten different municipalities, and it is the fourth largest savings bank in the country. Roughly, two thirds of the bank’s lending comprises loans to households and individuals.
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
Ms Marjo Harri, Senior Manager, Head of the Financial Institutions and SME Lending Group, at +358 10 618 0227,
Mr Dimitrijs Alehins, Senior Communications Specialist, at +358 10 618 0296,