ANNOUNCEMENT 29 Dec 2017
In December 2017, the Nordic Investment Bank (NIB) signed a loan agreement with Husqvarna AB to support its investments in product development of battery-operated equipment, robotics and chain-shaws for the gardening and forestry sector.
NUMBER OF INTERVENTIONS
The Nordic Investment Bank, Sweden. Sweden. Husqvarna AB: https://www.nib.int/what_we_offer/agreed_loans/608/husqvarna_ab
The Nordic Investment Bank, Questions & answers: https://www.nib.int/who_we_are/q_a
Husqvarna AB: http://www.husqvarnagroup.com/en/about
On 29 December 2017, the Nordic Investment Bank (NIB) and Husqvarna AB signed a loan agreement having a total value of SEK 1 billion (approx. USD 122 million). The loan supports the company's investments related to its research and development programme. The focus of the programme is the product development of battery-operated equipment, robotics and chain-shaws for the gardening and forestry sector. The maturity of the loan is 7 years.
According to the NIB: "The investment allows Husqvarna to pursue the development of battery-powered products and to advance its robotics segment, as well as to develop further new generations of chainsaws. Husqvarna has a strong track record of innovation and collaborates with academia and the private sector in NIB’s member countries."
Husqvarna AB has its headquarters in Sweden with the Group having a presence in around 40 countries worldwide. The company is a producer of various equipment and machinery for the gardening and forestry sector including lawnmowers, chainsaws and rollers as well as garden hoses and sprinkler systems.
The NIB is an international financing bank and is jointly owned by Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The bank provides financing to private and public projects mainly located in the eight countries at attractive conditions. The eligibility criteria of NIB financing is that: "All projects financed by NIB should improve competitiveness and/or the environment, in accordance with NIB's mandate and eligibility criteria. Furthermore, outside the membership area, projects financed by NIB should be of mutual interest to the country of the borrower and the member countries."
A state act in the GTA database is assessed solely in terms of the extent to which its implementation affects foreign commercial interests. On this metric, the investment support granted here is discriminatory.