Funding

The City of Gothenburg’s funding is mainly managed via established capital market programmes.

The city's sources of funding

Total external borrowing for the Group including loans for liquidity planning was SEK 46.3 billion at the end of the year, an increase of SEK 4.2 billion compared to the same period the previous year. The table shows the breakdown between different sources of financing and the level of agreed loan limits on 31 December 2019.

ProgrammeLimitUtilized
EMTN, bond loans EUR 6 bn SEK 28,7 bn
CP, short loans <1 year SEK 6 bn SEK 1,6 bn
ECP, short loans <1 year USD 0,5 bn SEK 2,2 bn
Kommuninvest - SEK 6,7 bn
European Investment Bank, EIB SEK 9,9 bn SEK 5,3 bn
Nordic Investment Bank, NIB SEK 1,0 bn SEK 1,0 bn
Council of Europe Development Bank, CEB EUR 0,2 bn SEK 0,8 bn

Loan programs

At the present time the City has a long-term programme in EMTN (Euro Medium Term Note) and short-term certificate programme CP (Commercial paper) and ECP (Euro Commercial Paper).The EMTN borrowing is limited to EUR 6 billion. The CP borrowing is limited to SEK 6 billion and the ECP borrowing is limited to USD 500 million.

Institutional borrowing

The City of Gothenburg is a member of Kommuninvest of Sweden and has the opportunity of raising financing that way. The City has also subscribed to loans bilaterally such as European Investment Bank (EIB), Nordic Investment Bank (NIB) and Council of Europe Development Bank (CEB). The total amount in bilateral loans are 12,2 billion.