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        NORDEA BALTIC SEA GLOBAL LOAN

        Signature(s)

        Amount
        € 170,000,000
        Countries
        Sector(s)
        Lithuania : € 10,000,000
        Latvia : € 15,000,000
        Estonia : € 25,000,000
        Poland : € 120,000,000
        Credit lines : € 170,000,000
        Signature date(s)
        28/12/2006 : € 10,000,000
        28/12/2006 : € 15,000,000
        28/12/2006 : € 25,000,000
        22/12/2005 : € 120,000,000

        Summary sheet

        Release date
        9 November 2005
        Status
        Reference
        Signed | 22/12/2005
        20050419
        Project name
        Promoter - financial intermediary
        Nordea Baltic Sea Global Loan
        Nordea Bank Polska SA; Nordea Bank Finland PLC
        Proposed EIB finance (Approximate amount)
        Total cost (Approximate amount)
        Up to EUR 170 million
        Not applicable
        Location
        Sector(s)
        Description
        Objectives

        Global Loan for the financing of smaller scale projects in the Baltic Sea region, carried out by SMEs and/or public sector promoters primarily in the fields of environmental, rational use of energy, infrastructure including health and urban renewal, development of a knowledge-based economy (i2i), education and training.

        The Global Loan would be fully in line with the Bank’s strategic objectives, in particular Economic and social cohesion and Regional Development. It will support smaller investments, in Poland and the Baltic States, which are of crucial importance for economic growth and modernization. All of the funds will contribute to the respective countries’ convergence within the EU, as the whole region is defined as an Objective 1 assisted area.

        Environmental aspects
        Procurement

        Compliance with EU and national environmental legislation and guidelines will be made a condition for each allocation under the global loan.

        Compliance with EU Directives and national legislation and guidelines is made a condition for each allocation under the global loan.

        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 Investigations Division. All reports will be treated as strictly confidential and handled in line with EIB investigation procedures and the EIB Group Anti-Fraud Policy.

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