NIB funds Gothenburg’s sustainability investments 

NIB and the City of Gothenburg have agreed on an uncommitted credit facility of SEK 1.2 billion (approx. EUR 104 million), earmarked for investments in sustainable public transport, as well as the city’s climate change adaptation project at the Packhus quay. 

The 20-year framework agreement gives Gothenburg the option to use NIB funding to finance its urban development programme for 2024–2029. The programme includes investments in sustainable public transport, as well as critical infrastructure upgrades to build up the city’s resilience against rising sea levels caused by climate change. 

Gothenburg’s ambition is to achieve an emission-free transport system by 2030. The loan facility will finance projects that contribute to more sustainable means of travel like walking, cycling or using public transport. The city is focusing on the Brunnsbo-Linné tramway, which will further connect the Gothenburg urban area and promote the use of public transport. 

The city is investing in adapting to the threats arising from climate change. To reduce risks coming from rising sea levels that put the Swedish coastal city of Gothenburg in a vulnerable position, the city will upgrade the Packhus quay to reduce the risk of flooding. 

NIB has signed similar uncommitted facilities with the Swedish municipalities of Strängnäs, Västerås and Varberg, unlocking potential funding for infrastructure investments and climate change mitigation measures. 

In 2016, NIB financed Gothenburg’s Hisings Bridge Construction. The bridge was completed in 2021 and now allows transport across the Göta Älv river. 

“NIB’s mission is to combat climate change and reduce its impacts,” says André Küüsvek, NIB President and CEO. “This loan offering will directly support Gothenburg’s ambitious climate goals by financing critical infrastructure projects that will benefit both the environment and the community for generations to come.” 

The City of Gothenburg is the second largest city in Sweden. The city has ca. 604,000 inhabitants and hosts a variety of important industries, as well as Scandinavia’s largest harbour. Gothenburg has an Environment and Climate Programme for 2021–2030, which sets out Gothenburg’s path to be an ecologically sustainable city by 2030. 

NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s. 
 
For further information, please contact  
Carlos Rodriguez, Senior Banker, at +358 10 618 0471, carlos.rodriguez@nib.int 

Anita Algus, Communications, at +358 10 618 0524, anita.algus@nib.int