Press release -
Danderyd municipality joins Kommuninvest as member 294
Kommuninvest welcomes a new member: Danderyd municipality. The last formalities of the membership have just been sorted out. This means that Kommuninvest Cooperative Society now has 294 members: 280 municipalities and 14 regions.
Danderyd municipality has in recent years moved from financial problems to a stable surplus. The purpose of the membership in Kommuninvest is to have access to an additional source of funding which could also halve borrowing costs in the long run.
- The municipality's employees have made a fantastic effort to create efficient operations which deliver better service at a lower cost. Our next goal will be to increase the quality of our services and give our residents and entrepreneurs an easier and better everyday life. Taxpayers’ money should be used in our operations, not for paying interest rates. This is then a natural step to take, says Hanna Bocander, chairman of the executive committee.
- It is a very positive thing that Danderyd has decided to join. Each new member makes Kommuninvest a little stronger in the work to offer stable and cost-effective financing of investments in the municipal sector. The fact that Kommuninvest's footprint in the Stockholm area continues to expand is an important step forward, says Göran Färm, Chairman of the Board of Kommuninvest Cooperative Society.
For further information
David Ljung, Head of Communications, tel: +46 73 068 45 45, e-mail: david.ljung@kommuninvest.se
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 the start in 1986, the Kommuninvest collaboration has helped reduce the local government sector’s borrowing costs by many billion SEK. Currently, 293 municipalities and regions are members of this voluntary cooperation. With a balance sheet total of approx. SEK 550 billion (USD ~63 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.
