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Signature(s)

Amount
€ 90,000,000
Countries
Sector(s)
Sweden : € 22,500,000
Finland : € 67,500,000
Industry : € 90,000,000
Signature date(s)
12/01/2015 : € 22,500,000
12/01/2015 : € 67,500,000
Link to source
Data sheet

Summary sheet

Release date
10 October 2014
Status
Reference
Signed | 12/01/2015
20140346
Project name
Promoter - financial intermediary
VALMET INNOVFIN
VALMET OYJ
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
Not disclosed.
Not disclosed.
Location
Sector(s)
Description
Objectives

RDI related to pulp, paper and power-generation technologies in the period 2015-2018.

The project aims to enhance competitiveness and improve energy and material efficiency of the promoter's products.

Environmental aspects
Procurement

RDI activities in the field of pulp mills, tissue, board and paper production lines, and power plants for bio-energy production do not fall under any annexes of the Environmental Impact Assessment (EIA) Directive 2011/92/EU and therefore do not require an Environmental Impact Assessment. The proposed activities are expected to be carried out in existing R&D centres that will not change their scope due to the project.

Procurement is expected to be in line with EIB guidelines for private sector projects. The Bank’s services will verify details during the project’s due diligence.

Comments

The InnovFin is an innovative credit-risk-sharing scheme jointly set up by the European Commission and the European Investment Bank to improve access to debt financing for private companies or public institutions promoting activities with a higher financial risk profile in the fields of research, technological development, demonstration and innovation investments.

Link to source
Summary sheet
Other links

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).

Documents

Environmental and Social Data Sheet (ESDS) - VALMET INNOVFIN
Publication Date
30 Jan 2016
Document language
Main Topic
Lending
Document Number
55885579
Document Focus
Environmental Information
Project Number
20140346
Sector(s)
Regions
Countries
Publicly available
Download now
Other links
Summary sheet
Data sheet

General enquiries and comments

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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.

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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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