15 Dec 2009

NIB loan benefits farmers and private households in southern Sweden

NIB and the Swedish savings bank, Sparbanken Finn, have signed a loan agreement totalling SEK 155 million (EUR 15 million). Sparbanken Finn will channel the funds to projects that will reduce emissions to air and water courses in southern parts of Sweden.

Aimed at households, farmers and small and medium-sized enterprises (SMEs), the subloans will help alleviate the problem of low-level emissions that cumulatively have a significant impact on the environment.

This NIB loan implements a loan facility that offers a way to prevent, reduce, and treat diffuse emissions which are otherwise difficult to localise and address. The geographical area in southern Sweden also forms part of the Baltic Sea's drainage area, a high priority area for the Bank,” says NIB President and CEO Johnny Åkerholm.

The loan has been granted under the Bank’s BASE (Baltic Sea Environment) and CLEERE (Climate Change, Energy Efficiency and Renewable Energy) lending facilities. These loan facilities, with a framework totalling EUR 1.5 billion, were launched in 2008 for loans aimed at cutting hazardous emissions in the Baltic Sea and mitigating climate change.

Sparbanken Finn is Sweden’s largest independent savings bank with operations in south-western and central parts of Skåne. The bank was established in 1833 and at present has 21 branches in 15 different locations. Sparbanken Finn offers financial services to individuals, SMEs and the agricultural sector in cooperation with leading market operators.

NIB is a multilateral 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 Johan Ljungberg, Senior Director, Head of Environmental Unit, +358 10 618 0289,

Ms Nina Monsen, Communications Specialist, at +358 10 618 0291,