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Signature(s)

Amount
€ 175,003,455.99
Countries
Sector(s)
Lithuania : € 43,750,864
Latvia : € 43,750,864
Estonia : € 87,501,727.99
Credit lines : € 175,003,455.99
Signature date(s)
16/12/2020 : € 18,750,000
16/12/2020 : € 18,750,000
16/12/2020 : € 25,000,864
16/12/2020 : € 25,000,864
16/12/2020 : € 37,500,000
16/12/2020 : € 50,001,727.99

Summary sheet

Release date
11 January 2021
Status
Reference
Signed | 16/12/2020
20200012
Project name
Promoter - financial intermediary
LUMINOR COVID-19 ENHANCED SUPPORT FOR SMES
LUMINOR BANK AS
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 175 million
EUR 1232 million
Location
Sector(s)
Description
Objectives

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.

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.

Environmental aspects
Procurement

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.

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.

Link to source

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).

scoreboard - LUMINOR COVID-19 ENHANCED SUPPORT FOR SMES
Publication Date
19 Feb 2021
Document Language
English
Main Topic
lending
Document Number
138823137
Document Focus
EFSI legal requirements
Document Type
Scoreboard
Project Number
20200012
Last update
20 Feb 2021
Sector(s)
Credit lines
Countries
Estonia, Latvia, Lithuania
Publicly available
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Link to source

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