Signature(s)
Summary sheet
- Credit lines - Credit lines
The operation will support Luminor Bank's expansion in the lending sector targeting small and medium sized enterprises (SMEs) and mid-caps in the Baltics. At least 20% of the operation will be dedicated to Climate Action.
The aim is to enhance access to loan finance for Luminor Bank's target beneficiaries, with a focus on Climate Action projects.
The operation will provide funding to Luminor Bank AS (''Borrower'') and will support the development of financing opportunities. Firstly, it will facilitate additional lending to Baltic SMEs and Midcaps. The blending of EIB loan at attractive pricing with Luminor's own resources will enable the Borrower to offer more favourable financing conditions (longer maturities, lower and flexible rates) to final beneficiaries. Luminor is a repeat counterparty of the EIB and has developed in-depth experience in implementing EIB product through its network of branches in the targeted region.
Furthermore, approximately 85% of the finance unlocked by the EIB is expected to benefit cohesion areas and as such, help reduce regional disparities per the EU's cohesion policy. Lastly, at least 20% of the finance is expected to be used in financing Climate Action & Environmental Sustaiability ("CA&ES'') projects which will accelerate the green transition of the three Baltic economies.
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.