Signature(s)
Summary sheet
- Credit lines - Credit lines
The project is part of the EIB's immediate COVID-19 response and aims at deleveraging Luminor's corporate portfolio with the aim of improving Luminor's capacity to support and respond to the economic slowdown and liquidity squeeze that small and medium-sized enterprises (SMEs) and mid-caps in the Baltic states are experiencing as a result of the COVID-19 pandemic.
The project aims at deleveraging Luminor's corporate portfolio with the aim to support and respond to the economic slowdown and liquidity squeeze that SMEs and mid-caps in the Baltic States are experiencing, as a result of the COVID-19 pandemic. It is expected that the main sectors for the new allocations will include manufacturing and services, to be further clarified during the appraisal.
In accordance with the Bank's policy to ensure that sub-loans comply with the EU acquis, in particular in the fields of environment, the Bank will require such intermediary institution to take all the requisite measures to ensure that the environment procedures carried out by the final recipients under the new portfolio will comply with the relevant EU environment legislation and the applicable national legislation, provided that it is in conformity with EU rules.
In accordance with the Bank's policy to ensure that sub-loans comply with the EU acquis, in particular in the fields of public procurement, the Bank will require such intermediary institution to take all the requisite measures to ensure that procurement procedures carried out by the final recipients under the new portfolio will comply with the relevant EU procurement legislation and the applicable national legislation, provided that it is in conformity with EU rules.