NIB signs loan with the Mortgage Society of Finland for on-lending to environmental projects

NIB agrees a 7-year loan agreement with the Mortgage Society of Finland (Hypo) for on-lending to projects with positive environmental effects in Finland.

The EUR 20 million loan will co-finance environmental projects undertaken by households and housing companies. This initiative aims to support the implementation of energy efficiency and renewable energy projects in building renovations, including heating, ventilation, isolation systems, and electric car charging points. Eligible projects include small-scale energy efficiency improvements or renewable energy installations in growth areas in Finland such as Helsinki, Tampere and Turku.

Hypo is renowned for its insightful analysis of market trends within the housing sector. Since 2010, NIB and Hypo have signed three loans of approximately EUR 30 million for energy efficiency improvements for households or housing companies.

"NIB's loan to Hypo marks another significant step towards supporting environmental initiatives in the housing sector. The funding will enable households and housing companies to implement energy efficiency measures, reducing their carbon footprint, and contribute to a sustainable future," says André Küüsvek, NIB President and CEO.

"Housing is facing ever larger environmental requirements. The loan agreement with NIB makes it possible to offer a variety of financing solutions to Finnish households and housing companies," says Ari Pauna, the Mortgage Society of Finland CEO.

The Mortgage Society of Finland (Hypo) is the oldest private credit institution in Finland, est. 1860, providing mortgages and consumer loans. Headquartered in Helsinki, Hypo currently has around 25,000 customers, and total assets amount to EUR 3.6 billion.

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:
Jim Dahlström, Senior Banker, Financial Institutions, at +358 10 618 0334, [email protected]

David B Rasmusson, Communications, at +358 50 476 3071, [email protected]