Press release -
Municipality of Ekerö a new member of Kommuninvest
Kommuninvest, the Swedish local government debt office and municipalities' cooperative body for financing, has gained a new member. Ekerö Municipality has been elected as a member 290 of Kommuninvest Cooperative Society. Thus, a total of 290 municipalities and regions are members of Kommuninvest, corresponding to 96 percent of the municipalities. 278 municipalities and 12 regions are included in the collaboration.
Comment from Christina Hedberg, Municipal Director, Ekerö Municipality:
- Ekerö Municipality is in an expansion phase and faces a period of at least 5-10 years with major investments. The future investment volume, in housing and business premises, etc., cannot only be financed with internal funds. When we borrow external funds, we have a responsibility to the taxpayers to obtain the best possible loan terms.
- Our membership in Kommuninvest mainly reflects a desire to increase competition when raising loans. I have good experience of Kommuninvest from my time as municipal director in Gnesta, they offer competitive rates and are skilled in municipal finance. It is reassuring to be able to have Kommuninvest as a partner
Topics
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, 289 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.
