Sweden. Falkenbergs Sparbank
| Date of agreement: | 11 Dec 2024 |
|---|---|
| Country: | Sweden |
| Customer: | Falkenbergs Sparbank |
| Amount in SEK: | SEK 300 million |
| Amount in EUR: | EUR 26 million |
| Maturity: | 5 years |
| NACE sector / loan type: | Loan programme |
Project
The loan facility has been provided to Falkenbergs Sparbank for on-lending to environmental projects, as well as to small and medium-sized companies (SMEs) in the northern Halland region in Sweden.
This loan facility primarily targets micro and small enterprises. Falkenbergs Bank will offer green loans to finance environmental investment projects such as electric vehicle purchases, solar panel installations and home energy efficiency upgrades.
This is NIB’s second loan programme in collaboration with Falkenbergs Sparbank. The first agreement was signed in 2019 and, like this one, was intended to support SMEs and environmental projects through on-lending.
Falkenbergs Sparbank is the 13th largest independent savings bank in Sweden in terms of total assets. Founded it 1865, 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, so 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.
