Toivo Group Oyj and the European Investment Bank (EIB) have signed a €60 million green loan to finance 19 development projects for high energy performance residential buildings. The agreement will support the construction of over 700 apartments in Finland, mainly in the Helsinki region but also in the Tampere and Turku regions. The projects will provide comfortable and energy-efficient small and medium sized flats, which are in high demand in Finland.

Residential properties with high energy efficiency standards are expected to make a significant contribution to the REPowerEU plan to end the European Union's dependence on fossil fuel imports, and to the collective goal of achieving net zero emissions. The financing of this operation supports the EIB's clean energy lending priority and complies with the energy efficiency criteria for new residential buildings in Finland. As a result, the agreement qualifies as a 100% climate action project in accordance with the EIB's current climate mitigation criteria for new buildings.