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    Signature(s)

    Amount
    € 175,003,455.98
    Countries
    Sector(s)
    Estonia : € 175,003,455.98
    Credit lines : € 175,003,455.98
    Signature date(s)
    16/12/2020 : € 75,000,000
    16/12/2020 : € 100,003,455.98

    Summary sheet

    Release date
    11 January 2021
    Status
    Reference
    Signed | 16/12/2020
    20200012
    Project name
    Promoter - financial intermediary
    LUMINOR COVID-19 ENHANCED SUPPORT FOR SMES
    LUMINOR BANK AS
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EUR 175 million
    EUR 1232 million
    Location
    Sector(s)
    Description
    Objectives

    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.

    Environmental aspects
    Procurement

    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.

    Link to source

    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).

    scoreboard - LUMINOR COVID-19 ENHANCED SUPPORT FOR SMES
    Publication Date
    19 Feb 2021
    Document Language
    English
    Main Topic
    lending
    Document Number
    138823137
    Document Focus
    EFSI legal requirements
    Document Type
    Scoreboard
    Project Number
    20200012
    Last update
    20 Feb 2021
    Sector(s)
    Credit lines
    Countries
    Estonia, Latvia, Lithuania
    Publicly available
    Download now
    Link to source

    News & Stories

    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.

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

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    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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