The European Investment Bank (EIB) and the Swedish, non-profit private housing co-operative SKB have signed a €56m loan agreement to build new minimum energy apartments in Stockholm.
The deal represents the first direct financing for energy-efficient residential buildings in Sweden by the EIB.
The development scheme is set to deliver 349 apartments between 2018 and 2021, which have an energy consumption of less than 55 kWh per square metre – 25kWh below Swedish regulatory requirements.
The apartments will be located in the neighbourhoods of Kungsholmen, Bromma, Gustavsberg and Kista.
“We are happy to support SKB in its long-term efforts to create sustainable and climate-friendly housing in the capital region,” said Alexander Stubb, vice-president of the EIB.
“This brings us one step closer towards a greener society which is less dependent on fossil fuels.”
Joakim Wernersson, head of finance at SKB, added: “We consider the fact that the EIB has chosen us as their first housing company partner to be a mark of the quality of our business.
“The loan has been offered on very competitive terms and with a long maturity, and it is a good way for us to further broaden our financing base.
“This type of borrowing also promotes green investments, which is a further boost for us and our brand.”
The EIB has also financed commercial and office ‘nearly zero-energy’ building projects in Stockholm and Gothenburg.
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
AIB provides funding for acquisition of 190 homes
AIB Corporate Banking has formed a partnership with Túath Housing Association to fund the acquisition of up to 190 social homes across every county and district in Ireland.
Virgin Money set to enter SME banking market
Virgin Money Holdings UK has announced plans to enter the UK SME banking market in January 2018.
British Business Bank welcomes extra £2.5bn government funding
The British Business Bank has welcomed the extra £2.5bn of government funding, announced in the Autumn Budget.
£11m UTB facility saves developer from considerable funding costs
United Trust Bank’s (UTB) structured finance team has provided an £11m facility to save a property development company from paying considerable funding costs.
Behind the scenes at Metro Bank’s new London store opening
Metro Bank opened its 52nd store in Liverpool Street, London, last Thursday (16th November), with the lord mayor of the City of London Alderman Charles Bowman cutting the ribbon.
Do people underestimate the scale of UK SMEs?
Only 2% of British people realise that SMEs make up 99% of total UK businesses, new research has revealed.
We need to aim higher than ‘a nation of shopkeepers’
I read an interesting newspaper article the other day with the headline: “UK bank scandals are making entrepreneurs reluctant borrowers”.
What are the key changes from the Autumn Budget 2017?
In the first Autumn Budget, the chancellor of the exchequer Philip Hammond has set out the government’s plan for the UK economy.
CYBG reports 6% lending growth
CYBG PLC has reported total lending growth of 6% during the year ending 30th September 2017.
Do enough businesses realise the benefits of asset finance?
Only one in 10 business owners (11%) describe the strength of their companies’ working capital facilities as “very strong”, even though their businesses are performing well, a report has revealed.