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Signature(s)

Amount
€ 30,000,000
Countries
Sector(s)
Latvia : € 30,000,000
Credit lines : € 30,000,000
Signature date(s)
10/06/2004 : € 30,000,000
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Summary sheet

Release date
17 February 2004
Status
Reference
Signed | 10/06/2004
20040082
Project name
Promoter - financial intermediary
Vereinsbank Riga Global Loan III
A/S Vereinsbank Riga.
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
Up to EUR 30 million.
Minimum EUR 60 million.
Location
Sector(s)
Description
Objectives

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.

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.

Environmental aspects
Procurement

The financial intermediary will be requested to ensure compliance of the sub-projects with relevant national and EU Directives, as appropriate.

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.

Comments

Industry, services, tourism, environment, infrastructure, development of a knowledge-based economy, rational use of energy, health and education.

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Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

Media enquiries

Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

Complaints mechanism

Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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