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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

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