Featured Product

    Nordea Bank and EIB Sign Agreement to Fund Green Projects in Nordics

    September 15, 2021

    The European Commission (EC) announced that Nordea Bank has signed a guarantee agreement with the European Investment Bank (EIB) Group to support the sustainable transformation of businesses in the Nordics. The EIB Group (comprising EIB and the European Investment Fund) will guarantee a portfolio of Nordea lending up to EUR 1.8 billion, freeing up capital for new loans for sustainable initiatives of Swedish and Finnish companies. As part of the agreement with the EIB Group, which is owned by the EU member states, Nordea Bank has committed to extend funding at attractive terms to eligible green projects. This gives Nordea Bank the opportunity to provide small and medium-size (SME) customers in Finland and Sweden lower than usual rates to fund investments that meet well-defined sustainability criteria.

    The green loans will be offered to eligible SME businesses and include offering reduced margins for eligible projects. Nordea Bank has committed to reach net-zero emissions by 2050 and to reduce CO2 emissions from its lending portfolio by 40%-50% by 2030. During the third quarter of 2021, Nordea will be ready to offer its customers advice about the new lending offering and will start issuing the new sustainable, guaranteed loans. In March 2021, Nordea had signed an agreement with the EIF to support SMEs in Sweden, Finland, and Denmark with attractive lending, to manage companies facing temporary COVID-19 circumstances and/or to accelerate their growth. This initiative is backed by the European Union's Investment Plan for Europe, which is aimed at encouraging sustainable, long-term economic growth in Europe.


    Related Links

    Keywords: Europe, Sweden, Finland, Banking, SME, Sustainable Finance, ESG, Lending, Credit Risk, Nordea Bank, EIB Group, EC

    Related Articles

    ESAs Issue Multiple Regulatory Updates for Financial Sector Entities

    The three European Supervisory Authorities (ESAs) issued a letter to inform about delay in the Sustainable Finance Disclosure Regulation (SFDR) mandate, along with a Call for Evidence on greenwashing practices.

    November 15, 2022 WebPage Regulatory News

    ISSB Makes Announcements at COP27; IASB to Propose IFRS 9 Amendments

    The International Sustainability Standards Board (ISSB) of the IFRS Foundations made several announcements at COP27 and with respect to its work on the sustainability standards.

    November 10, 2022 WebPage Regulatory News

    IOSCO Prioritizes Green Disclosures, Greenwashing, and Carbon Markets

    The International Organization for Securities Commissions (IOSCO), at COP27, outlined the regulatory priorities for sustainability disclosures, mitigation of greenwashing, and promotion of integrity in carbon markets.

    November 09, 2022 WebPage Regulatory News

    EBA Finalizes Methodology for Stress Tests, Issues Other Updates

    The European Banking Authority (EBA) issued a statement in the context of COP27, clarified the operationalization of intermediate EU parent undertakings (IPUs) of third-country groups

    November 09, 2022 WebPage Regulatory News

    OSFI Sets Out Work Priorities and Reporting Updates for Banks

    The Office of the Superintendent of Financial Institutions (OSFI) published an annual report on its activities, a report on forward-looking work.

    November 07, 2022 WebPage Regulatory News

    APRA Finalizes Changes to Capital Framework, Issues Other Updates

    The Australian Prudential Regulation Authority (APRA) finalized amendments to the capital framework, announced a review of the prudential framework for groups.

    November 03, 2022 WebPage Regulatory News

    BIS Hub and Central Banks Conduct CBDC and DeFI Pilots

    The Bank for International Settlements (BIS) Innovation Hubs and several central banks are working together on various central bank digital currency (CBDC) pilots.

    November 03, 2022 WebPage Regulatory News

    ECB Sets Deadline for Banks to Meet Its Climate Risk Expectations

    The European Central Bank (ECB) published the results of its thematic review, which shows that banks are still far from adequately managing climate and environmental risks.

    November 02, 2022 WebPage Regulatory News

    ESAs, ECB, & EC Issue Multiple Regulatory Updates for Financial Sector

    Among its recent publications, the European Banking Authority (EBA) published the final standards and guidelines on interest rate risk arising from non-trading book activities (IRRBB)

    October 31, 2022 WebPage Regulatory News

    EC Adopts Final Rules Under CRR, BRRD, and Crowdfunding Regulation

    The European Commission (EC) recently adopted regulations with respect to the calculation of own funds requirements for market risk, the prudential treatment of global systemically important institutions (G-SIIs)

    October 26, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8582