Sweden. Ziklo Bank AB
| Date of agreement: | 12 Dec 2024 |
|---|---|
| Country: | Sweden |
| Customer: | Ziklo Bank AB |
| Amount in SEK: | SEK 750 million |
| Amount in EUR: | EUR 65.2 million |
| Maturity: | 7 years |
Project
The loan has been provided for Ziklo Bank for on-lending to support small and medium-sized enterprises (SMEs) and small mid-caps (SMCs) in Sweden. Through this loan agreement, Ziklo Bank will enable these businesses to acquire a variety of transportation vehicles, including heavy and light trucks, trailers, and buses.
Fulfilment of NIB's mandate
Productivity:
The loan programme aims to enhance access to financing for SMEs and small mid-cap companies, particularly for acquiring or leasing heavy and light transportation vehicles, as well as buses. Since these businesses play a significant role in overall economic output and employment, the programme could help address credit constraints which is a common challenge faced by SMEs. By alleviating these constraints, the loan programme can boost market productivity and efficiency.
Sustainability summary
The project’s scope for Ziklo Bank is focused on financing the acquisition of commercial vehicles, including trucks, trailers, buses, and hybrid vans, through Volvo dealerships (representing Volvo, Polestar, and other brands). The loan programme is not anticipated to have significant environmental impacts.
Aligning with its sustainability goals, Ziklo Bank aims to reduce the average CO₂ emissions from vehicles in its portfolio by 30% by 2025 and 70% by 2030, using 2020 as the baseline year.
