NIB and Westra Wermlands Sparbank sign third loan to support SMEs and environmental projects in Sweden

The Nordic Investment Bank (NIB) and Westra Wermlands Sparbank have signed a SEK 150 million (approximately EUR 13 million) loan agreement to finance small and medium-sized enterprises (SMEs), smaller mid-caps (SMCs) and environmental projects in Sweden.

The seven-year loan programme will be on-lent to Westra Wermlands Sparbank’s customers in Värmland in Sweden. SMEs and SMCs are often suppliers of larger companies, and they play a crucial role in the economic activity and employment in the region.

“Providing NIB’s long-term financing to Westra Wermlands Sparbank allows us to extend our lending to smaller local enterprises that we would otherwise be unable to finance directly,” says André Küüsvek, NIB President & CEO. “The loan programme can facilitate productivity growth in the region, and we are pleased to continue our cooperation with Westra Wermlands Sparbank.”

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.

NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.

For further information, please contact:

Ralf Hansson, Senior Banker, at +358 10 618 0268, Ralf.Hansson@nib.int

Lotta Forssell, Senior Communications Officer, at +358 10 618 0498, lotta.forssell@nib.int