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”Our operations are accessible and stable”

Press release   •   Mar 17, 2020 15:45 UTC

Because of Covid-19, Kommuninvest has in recent weeks done extensive work to protect against infection and ensure that crisis preparedness is good.

New staff rules have been introduced: including that individuals in critical functions should not be in the same meetings or contexts at the same time, that there should be a high degree of restrictiveness in all travels and that anyone who has been particularly exposed to risk should be quarantined.

Staff members who have visited identified risk areas or have otherwise been in high-risk environments have been instructed to work from home for two weeks.

On Thursday, a crisis exercise was conducted in which all staff was asked to work from home all day. The outcome was positive. Normal operations were upheld. Scheduled meetings were carried out. Kommuninvest clearly has the capacity needed to maintain business-as-usual even with its staff working from home.

Starting tomorrow, a couple of additional measures are added:

  • Working from home to be the standard
  • Digital meetings to be the standard
  • Home-based workplaces are swiftly upgraded with all the equipment necessary to sustain advanced financial operations

- As the largest lender to Sweden's municipalities and regions, we are a critical part of the financial system. This is a responsibility that we take very seriously. Therefore, it is very important for us to ensure that our operations are accessible and stable even in an extraordinary situation, says Tomas Werngren, CEO at Kommuninvest.​

Kommuninvest is a municipal cooperation for efficient and sustainable financing of housing, infrastructure, schools, hospitals etc. Together, we get better loan terms than each one individually. Since its inception in 1986, the Kommuninvest collaboration has helped lower the local government sector’s borrowing costs by many billion kronor. Currently, 290 municipalities and counties/regions are members of this voluntary cooperation. With total assets exceeding SEK 450 billion (USD ~47 billion), Kommuninvest is the largest lender to the local government sector and one of the ten largest credit institutions in Sweden. The head office is located in Örebro.

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