The Nordic Investment Bank (NIB) has loaned €18mn to Swedish bank Sparbanken Öresund to on-lend to SMEs.

The facility has a tenor of seven years and has an on-lending deadline of 18 months.

The finance will be released to SMEs conducting environmentally friendly projects in the following sectors: reduction or cleaning of wastewater discharge; reduction of nutrient runoff from agriculture; improved heat insulation; change from fossil-fuelled heating to pellets, small-scale wind power or solar panels.