Sweden. Falkenbergs Sparbank
| Date of agreement: | 31 Oct 2019 |
|---|---|
| Country: | Sweden |
| Customer: | Falkenbergs Sparbank |
| Amount in SEK: | SEK 200 million |
| Amount in EUR: | EUR 18.6 million |
| Maturity: | 7 years |
| NACE sector / loan type: | Loan programme |
Project
The loan programme has been agreed with Falkenbergs Sparbank for on-lending to small and medium-sized enterprises (SMEs) and environmental projects in the municipalities of Falkenberg and Halmstad, Sweden.
The facility mainly targets local businesses in sectors such as manufacturing, real estate management, agriculture and forestry, construction and transportation. Eligible investments further include environmental projects, such as renewable energy and energy efficiency investments.
Falkenbergs Sparbank is the 13th largest independent savings bank in Sweden in terms of total assets. Founded it 1856, the bank operates three branches in Falkenberg, Getinge and Ullared.
Fulfilment of NIB's mandate
Productivity:
Credit constraints for smaller companies have been identified as a competitive disadvantage in NIB’s member countries. SMEs are responsible for a considerable share in aggregate output and employment in the Nordic and Baltic countries, therefore improved access to financing is expected to increase competitive pressure and market efficiency.
Environment:
Under the loan facility, Falkenbergs Sparbank will allocate financing to eligible environmental projects. Projects that are financed through a financial intermediary are required to fulfil the requirements defined in NIB’s Sustainability Policy and Guidelines.
Sustainability summary
No significant negative environmental impacts have been identified. Falkenbergs Sparbank has a sustainability policy and guidelines for environmental assessment in place.
