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.
-
Temenos partners with ClearBank for cloud payments
Banking software company Temenos has formed a strategic relationship with ClearBank to provide banks with a faster route to market for real-time cloud payments...
-
Unity Trust Bank registers 34% rise in profits
Unity Trust Bank increased profits by 34% in 2019...
-
Believe the hype – why explainable AI is a trend that’s here to stay
Technology has become a ubiquitous part of our day-to-day lives...
-
Piloting tech updates: ‘The bigger the bank, the harder it is to get anything done’
In the latest Medianett filmed roundtable session, we discussed how important technology is in the banking space, and what impact the industry expects it to have on its businesses in the future...
-
What banks need to know about cloud security
One of the most common perceived concerns when adopting the cloud is the issue of security...
-
OakNorth sees 95% increase in pre-tax profits
OakNorth Bank has announced a 95% rise in pre-tax profits in 2019 to £65.9m, up from the £33.9m recorded in 2018...
-
Redwood Bank signs up to Women in Finance Charter
Redwood Bank has announced that it has signed up to the Women in Finance (WIF) Charter...
-
Masthaven launches digital Women in Leadership programme
Masthaven Bank has launched a new Women in Leadership digital development programme for female senior leaders...
-
Protecting against supply chain disruption and the domino effect
Disappointingly, many UK SME business owners don’t understand their supply chains...
-
Confused about which Isa to choose? Hopefully this mini-guide will help…
We are now firmly in Isa season, so you’re likely to read multiple articles about the most competitive Isa products in the market and how best to make the most of your Isa allowance before the end of the tax year...
-
Garden shed entrepreneurs contribute £16.6bn to the UK economy
Entrepreneurs who run their businesses from garden sheds contribute £16.6bn annually to the UK economy, according to a recent study...