Search En menu en ClientConnect
Search
Results
Top 5 search results See all results Advanced search
Top searches
Most visited pages
    Reference: 20200012
    Release date: 11 January 2021

    Promoter – Financial Intermediary

    LUMINOR BANK AS

    Location

    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)

    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).

    Related tags

    Estonia Latvia Lithuania Credit lines