Finland

The European Investment Bank (EIB) is lending €150 million to Keliber Oy, a Finnish mining and battery-material processing company, to help the EU meet growing demand for lithium in the electrification of transport. The EIB credit to Keliber, subsidiary of the diversified mining and metals processing Group Sibanye-Stillwater, with Finnish Minerals Group (FMG) as a minority shareholder, is part of a €500 million financing package to establish mining and processing facilities in the Kaustinen area in Finland, which is among Europe’s largest lithium reserves. 

The European Investment Bank (EIB) is extending a €435 million credit to forestry company Stora Enso so it can produce greener packaging for foods and personal care products. The loan is for a major upgrade of Stora Enso’s manufacturing site in Oulu, where the company already invested €1 billion euro in reusable, fiber-based, and recyclable packaging production for consumer goods.

With the economic outlook in Finland uncertain and Finnish companies postponing investments, Finnvera Plc and the European Investment Bank (EIB) are mobilising projects that promote employment, growth and clean transition of medium-sized companies.