Release date: 17 February 2004
Promoter – Financial Intermediary
A/S Vereinsbank Riga.Location
Description
Financing of small and medium-scale projects promoted by private and public bodies in the fields of environment, infrastructure, development of a knowledge-based economy, rational use of energy, health, and education, as well as by small and medium-sized enterprises (SMEs) in industry, services and tourism in Latvia.
Objectives
The global loan would contribute to the development of term finance in Latvia. Through the financial intermediary, the global loan would provide long-term funding for eligible projects promoted by SMEs and by private and public promoters in eligible sectors.
Comments
Industry, services, tourism, environment, infrastructure, development of a knowledge-based economy, rational use of energy, health and education.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to EUR 30 million.
Total cost (Approximate amount)
Minimum EUR 60 million.
Environmental aspects
The financial intermediary will be requested to ensure compliance of the sub-projects with relevant national and EU Directives, as appropriate.
Procurement
The financial intermediary will be requested to ensure compliance of the sub-projects with EU Directives, in particular for the award of public sector contracts, as appropriate.
Status
Signed - 10/06/2004