NIB supports Peab in construction projects linked to Nordic total defence

NIB has signed a six-year loan agreement worth EUR 125 million with Swedish construction and civil engineering company Peab. The loan will finance Peab’s role as an important contractor delivering projects related to total defence across the Nordic region.

The construction sector plays a crucial role in defence infrastructure. This is NIB’s first defence- related loan to the construction sector since NIB revised its Sustainability Policy to allow for defence financing in the summer 2024.

“Strengthening defence infrastructure is a shared priority across the Nordic-Baltic region. By supporting Peab’s delivery capacity, NIB is helping to ensure that critical infrastructure can be built and maintained in the current challenging geopolitical environment,” says Jeanette Vitasp, NIB Vice-President, Head of Lending.

“Peab’s operations are locally anchored across Sweden, Norway, Finland and Denmark, with more than 13,000 employees and ownership of strategically important assets such as gravel and rock quarries, concrete plants, asphalt plants, prefabrication factories and equipment depots. This gives us a strong and important role in total defence, as a contractor to both the defence sector and other critical societal actors, in both peacetime and times of crisis. The loan from NIB is a recognition of this role and strengthens the work to enhance the robustness and resilience of the Nordic countries. We are very proud of this trust,” says Jesper Göransson, President and CEO of Peab.

Founded in 1959, Peab is a Swedish construction and civil engineering company listed on Nasdaq Stockholm. Peab operates in Sweden, Norway, Finland and Denmark, employing approximately 13,000 people. The company operates across four business areas: construction; civil engineering; industry; and project development.

NIB is the international financial institution of Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway, and Sweden. The Bank finances projects that improve productivity and benefit the environment of the Nordic-Baltic region. The Bank is headquartered in Helsinki with a regional hub in Riga. NIB has the highest possible credit rating, AAA/Aaa, with S&P Global Ratings and Moody’s.

Contacts:

Patrick Nylund, Senior Banker, +358 10 618 0329, Patrick.nylund@nib.int

Arild Moen, Associate Director, External Communications Lead, +358 10 618 0496, arild.moen@nib.int