Sweden. Sparbanken Nord
| Date of agreement: | 25 Jun 2024 |
|---|---|
| Country: | Sweden |
| Customer: | Sparbanken Nord |
| Amount in SEK: | SEK 200 million |
| Amount in EUR: | EUR 18 million |
| Maturity: | 7 years |
Facilities
Arctic Financing Facility (read more): 100%
Project
The loan facility has been provided to Sparbanken Nord for onlending to environmental projects, as well as to small and medium-sized companies and small mid-caps in Northern Sweden.
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 and the only one in the Arctic part of the country. Sparbanken Nord’s lending covers sectors such as real estate, forestry, agriculture, manufacturing, construction and services, and hotel and restaurants.
Fulfilment of NIB's mandate
A loan programme aimed at smaller companies will improve their access to finance, thereby strengthening their overall growth and productivity development.
Several large projects connected to the green transition are being planned in Northern Sweden. With the inception of these investments, it is likely that subcontractors to larger companies will also increase investments, which may thus bring new demand for lending to SMEs and SMCs.
Sustainability summary
Sparbanken Nord will ensure that the on-lending is to eligible activities with necessary environmental permits.
