20 Jun 2011

NIB loan to Pohjola to improve housing sector’s environmental impact

NIB and Finland's Pohjola Bank plc have signed an agreement for a loan programme, totalling EUR 50 million, earmarked for improving energy efficiency and wastewater treatment in the housing sector and industrial buildings.

Pohjola Bank will open a credit facility for housing companies, SMEs and large corporations in Finland. Subloans will, for instance, finance improvements in the treatment of wastewater from public-use facilities, improved fertiliser and manure handling or building renovation with the purpose of improving buildings' energy efficiency.

"This loan programme is an example of how NIB in cooperation with an intermediary bank can reach out to smaller-scale projects improving direct impact on the environment. Better waste management and energy efficiency will positively affect both the environment and the standard of living," says Johnny Åkerholm, NIB President and CEO.

The loan programme will support actions against so-called diffuse small-scale emissions into lakes and the sea as well as to promote the use of environmentally friendly solutions in heating systems.

Pohjola Bank ranks among the leading corporate banks in Finland and provides banking, non-life insurance and asset management services to corporate and institutional customers.

The Nordic Investment Bank (NIB) is the common international financial institution of the eight Nordic and Baltic countries. NIB provides long-term financing to the energy, environmental, transport, logistics and communications, and innovation sectors for projects that strengthen competitiveness and enhance the environment. 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

Kim Krokfors, Senior Manager Origination, at +358 10 618 0517,

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