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    Signature(s)

    Amount
    € 39,000,000
    Countries
    Sector(s)
    Latvia : € 39,000,000
    Industry : € 39,000,000
    Signature date(s)
    15/12/2022 : € 39,000,000

    Summary sheet

    Release date
    8 February 2023
    Status
    Reference
    Signed | 15/12/2022
    20180546
    Project name
    Promoter - financial intermediary
    PLYWOOD PRODUCTION INVESTMENT PROGRAMME LATVIA
    AS LATVIJAS FINIERIS
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EUR 39 million
    EUR 82 million
    Location
    Sector(s)
    Description
    Objectives

    The project concerns the promoter's investments in research & development (R&D) carried out from 2019 until 2021. Additionally, it also include the modernisation and moderate capacity expansion of the integrated birch plywood production facility at Lignums and at Verems.

    The financing will back the promoter's investments in the sustainable modernisation and expansion of production facilities to support its growth ambitions and strengthen its competitive market position. The loan agreement is part of the European Commission's Investment Plan for Europe, which aims to help businesses access the funding required for innovation, growth and job creation. The project is fully aligned with EU policy to promote innovative mid-caps in support of the bioeconomy. The project is seeking to improve the efficient use of natural resources and aims to reduce the environmental footprint of its operations.

    Environmental aspects
    Procurement

    The project is aligned with the EU Green Deal, Climate Action objectives, the EU Forestry and Bioeconomy strategies, and the EU Circular Economy action plan. The project falls under the scope of Annex II of environmental impact assessment (EIA) Directive 2014/52/EU and needs to be subject to a screening assessment by the competent authority for both industrial sites. The applicable screening decisions, and in the event of a screening-in decision the EIA documents as well as documentary evidence of the associated consultation processes related to the investment will have to be submitted to the EIB before the first disbursement.

    Although the promoter is a private company not operating in the utilities sector, and is thus not covered by EU directives on procurement, the EIB will require to ensure that any procurement procedures are done in accordance with the relevant applicable EU procurement rules.

    Related projects

    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).

    Documents

    Environmental and Social Data Sheet (ESDS) - PLYWOOD PRODUCTION INVESTMENT PROGRAMME LATVIA
    Publication Date
    9 Mar 2023
    Document language
    Main Topic
    Lending
    Document Number
    165384310
    Document Focus
    Environmental Information
    Project Number
    20180546
    Sector(s)
    Regions
    Countries
    Publicly available
    Download now
    scoreboard - AGRICULTURE AND BIOECONOMY PROGRAM LOAN
    Publication Date
    16 Apr 2018
    Document Language
    English
    Main Topic
    lending
    Document Number
    82872661
    Document Focus
    EFSI legal requirements
    Document Type
    Scoreboard
    Project Number
    20180546
    Last update
    16 Apr 2018
    Sector(s)
    Industry
    Countries
    Latvia
    Publicly available
    Download now

    News & Stories

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    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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    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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