ANNOUNCEMENT 10 Oct 2018

In October 2018, the Nordic Investment Bank (NIB) signed a loan agreement with Vantaan Energia Oy to support its retrofitting of an oil boiler at a CHP plant in Finland. 

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

The Nordic Investment Bank, agreed loans, Finland. Vantaan Energia Oy: https://www.nib.int/what_we_offer/agreed_loans/644/vantaan_energia_oy
The Nordic Investment Bank, Questions & answers: https://www.nib.int/who_we_are/q_a

Inception date: 10 Oct 2018 | Removal date: open ended

State loan

On 10 October 2018, the Nordic Investment Bank (NIB) and Vantaan Energia Oy signed a loan agreement having a total value of EUR 27 million (approx. USD 31 million). The loan will support the company's retrofitting of a K1 oil boiler at the Martinlaakso combined heat and power (CHP) plant in Finland. The maturity of the loan is 8 years. 

Vantaan Energia Oy is an energy generation company owned by the City of Helsinki (40%) and City of Vantaa (60%).

The NIB is an international financing bank and is jointly owned by Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The bank provides financing to private and public projects mainly located in the eight countries at attractive conditions. The eligibility criteria of NIB financing is that: "All projects financed by NIB should improve competitiveness and/or the environment, in accordance with NIB's mandate and eligibility criteria. Furthermore, outside the membership area, projects financed by NIB should be of mutual interest to the country of the borrower and the member countries." 

A state act in the GTA database is assessed solely in terms of the extent to which its implementation affects foreign commercial interests. On this metric, the investment support granted here is discriminatory.

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