The loan of SEK 1,060m runs for 15 years and is part of the Nordic Investment Bank’s (“NIB”) loan portfolio, which aims to promote sustainable societal development in the Nordic and Baltic countries. The loan finances a 26,000 sqm multifunctional building that houses six theatre stages, two art galleries and the city library alongside a conference centre, hotel, and restaurants.

The Sara Cultural Centre has been constructed using locally sourced wood, benefiting the locally forestry companies, and creating new jobs in the process. Standing at almost 80 metres, the building is one of the world’s tallest timber constructions.

“We view this financing very positively, which extends SBB’s capital tied up, which is already among the longest in the Nordic market. We are also pleased to have the opportunity to broaden the investor base with a new lender that supports SBB’s investments in social infrastructure and sustainability,” says Rosel Ragnarsson, Head of Finance, Samhällsbyggnadsbolaget i Norden AB.

“Skellefteå is undergoing a rapid transformation, and this state-of-the-art cultural centre is a true statement to its progress. Following the establishment of NIB-financed Northvolt’s battery plant, the area will continue to attract new workforce for years to come. Therefore, ensuring sufficient and well-functioning social infrastructure will be key to sustainable regional growth,” says André Küüsvek, NIB President and CEO.

NIB is an international financial institution owned by Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The bank has lending operations both within and outside the member countries. NIB’s vision is a successful and sustainable Nordic-Baltic region. NIB funds projects that improve productivity and benefit the environment of the Nordic and Baltic countries.

For further information, please contact:

Rosel Ragnarsson, Head of Finance, Samhällsbyggnadsbolaget i Norden AB, [email protected]