Sweden. Westra Wermlands Sparbank
Date of agreement: | 04 Dec 2024 |
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Country: | Sweden |
Customer: | Westra Wermlands Sparbank |
Amount in SEK: | SEK 150 million |
Amount in EUR: | EUR 13 million |
Maturity: | 7 years |
Project
The loan facility has been provided to Westra Wermlands Sparbank for on-lending to environmental projects, as well as to small and medium-sized companies (SMEs) and small mid-caps (SMCs) in Sweden. A minimum of 50% of the loan will be allocated to environmental projects, and the remainder to SMEs and SMCs.
This is the third loan signed between NIB and Westra Wermlands Sparbank. The first was agreed in 2015.
Westra Wermlands Sparbank is an independent savings bank that operates seven branches in the western region of Värmland in Sweden. The bank was founded in 1865. The bank provides banking services to smaller companies and individuals in the region.
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 in the region.
Westra Wermlands Sparbank will allocate half NIB’s loan programme to environmental loans aligned with NIB’s criteria for eligible environmental projects and investments. The borrower foresees a pipeline of eligible projects in at least solar panel loans, electric vehicle (EV) charging infrastructure and energy efficiency investments in industry.
Sustainability summary
Westra Wermlands Sparbank will ensure that the on-lending is to eligible activities with the necessary environmental permits.