NIB and Sparbanken Nord finance SMEs in northern Sweden

NIB and Sparbanken Nord have signed a loan programme of SEK 100 million (EUR 9.28 million) for onlending to small and medium-sized enterprises (SMEs), small mid-caps (SMCs) and small-scale environmental projects in the Norrbotten region of Sweden.

The seven-year loan programme will finance small-scale environmental projects and investments by SMEs and small mid-caps in the north of Sweden. SMEs are responsible for a considerable share of aggregate output and employment in NIB’s member area and improved access to financing is expected to increase productivity and efficiency in the market.

Projects that qualify for financing under the loan facility include investments for example in new equipment and vehicles by companies in the logging and mining sectors, as well as the pulp and paper industries in the Norrbotten region of Sweden that aim to modernise operations.

This is the second loan programme signed between Sparbanken Nord and NIB; the first facility was agreed in 2013.

Established in 1852, Sparbanken Nord is a regional bank located in the Norrbotten region of northern Sweden. The bank operates eleven branches and is the third largest independent savings bank in the country. Sparbanken Nord’s lending covers sectors such as real estate, forestry, agriculture, manufacturing, construction and services.

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

Mr Ralf Hansson, Senior Manager, Origination, at +358 10 618 0268, ralf.hansson@nib.int

Ms Lisa-Maria Altenberger, Communications Unit, at +358 10 618 0234, lisa-maria.altenberger@nib.int