How we generate sustainable values

Through lending to municipalities and regions, Kommuninvest establishes conditions for the expansion of Swedish welfare, increases the stability of local government finances and contributes to a more sustainable Sweden.

The municipalities and regions form the backbone of the Swedish welfare state. It is under the their management that citizens encounter the most central social services, including healthcare, education and residential care. They also play a central role in the basic social infrastructure, in the form of housing construction, energy supply, public transport, water and sanitation, waste management and recycling, etc.

Local government actors are also a driving force behind Swedish sustainability efforts, with ambitious environmental plans and being responsible for urban planning, local infrastructure and public transport. More than 90 percent of the municipalities have set their own environmental targets or have adopted national or regional targets. They frequently aim higher than the national target of a fossil-free Sweden by 2045.

Generating direct values

In its role as the largest lender to the Swedish municipal sector by a wide margin, Kommuninvest helps generate both direct and indirect values. Among the direct values, the most important is that the cost-efficient lending we provide brings financial stability to municipalities and regions. Our lending makes it possible to carry out essential investments in welfare and sustainability – and to a greater extent or at a faster pace than would have been possible if credit had been more expensive. We also offer our members a tool for easier and more efficient debt management that we have developed in-house, KI Finans, the full-scale version of which is being used by 216 out of 290 members. Because of its good financial results, Kommuninvest’s members have been able to receive an annual distribution of surpluses, consisting of refunds and interest on contribution capital. In 2019, SEK 717.8 million in surpluses was distributed for the 2018 financial year.

Generating indirect value

The most important values that Kommuninvest contributes to creating are of course the results of all of the investments financed by our lending. These involve welfare investments including new or refurbished homes for the elderly, schools and healthcare centres, or various forms of infrastructure such as roads, public transport, energy, water/sewerage. Cost-efficient, long-term financing provides conditions for municipalities and regions to make significant investments at the pace needed to meet increased requirements on level of service, population growth and other needs arising in common welfare. Because 96 percent of Sweden’s municipalities and 60 percent of its regions are members of Kommuninvest, our lending contributes to making beneficial investments from north to south, in turn engendering conditions for people to live and work in all parts of Sweden. 

Kommuninvest works actively to build up capacity and increase knowledge of the local government sector’s financial conditions. This is partly achieved by collaborating on research with Örebro University and by developing customised courses for elected local government representatives and officials in collaboration with the Stockholm School of Economics. We have also initiated and fund the Society Lab network, which is aimed at young politicians and where issues of welfare and welfare financing are discussed.. In this way, Kommuninvest helps produce the conditions needed for long-term sound and sustainable local government finances. We are also a partner of the Vadstena Forum for Public Construction, which arranges symposia to promote an open debate and exchange of knowledge on public construction issues.

For a long time, municipalities and regions have had clear assignments to shape a sustainable society. Today, the sustainability debate has broadened to cover a wide range of aspects, not least on how we take responsibility for the society we pass on to future generations. Consequently, virtually all local government sector investments have a sustainability focus – particularly when it comes to investments aimed at reducing negative effects on the climate, building long-term sustainable societies, promoting clean water and sustainable energy, and sustainably developing industry, innovations and infrastructure. These investments help meet several of the component targets in the UN’s Agenda 2030, on which many actors in the local government sector hold a position. A significant portion of investments promoting sustainability are financed with Kommuninvest’s Green Loans, which were introduced in 2015. At the end of 2019, SEK 63.1 (40.0) billion in Green Loans had been granted regarding 346 (232) investment projects in 150 (109) municipalities and regions. 

Kommuninvest finances Green Loans by issuing Green Bonds. Demand for our Green Bonds has been very good, and most issues have been oversubscribed. With its Green Loans and Green Bonds, Kommuninvest contributes to the financial market’s realignment to support development towards a sustainable society.



Lending: 407 SEK bn

Of which, 10 percent Green Loans
(based on disbursed volume)

717,8 SEK million in total distribution of surplus*

2 062 users of KI Finans

*Amount disbursed in 2019, relating to the 2018 financial year.


Creates stable finances in municipalities and regions.

Contributes to the general build-up of welfare in Sweden.

Bidrar till att hela Sverige lever.

Helps all of Sweden live.

Bidrar till att uppfylla Sveriges hållbarhetsmål.

Helps to meet Sweden’s sustainability targets.