Release date: 11 January 2021
Promoter – Financial Intermediary
LUMINOR BANK ASLocation
Description
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.
Objectives
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.
Sector(s)
- Credit lines - Credit lines
Proposed EIB finance (Approximate amount)
EUR 175 million
Total cost (Approximate amount)
EUR 1232 million
Environmental aspects
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.
Procurement
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.
Status
Signed - 16/12/2020
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).