📋 Tender Overview
Project ID: 56434
Status Signed
Location: Latvia
Business Sector: Financial Institutions
Notice Type: Private
Environmental Category: FI
Approval Date: 09 Sep 2025
Disclosure date: 21 Oct 2025
Project Description
In September 2025, EBRD invested EUR 5 million in senior preferred bonds placed by Citadele Banka AS ("Citadele") as part of its EUR 300 million international issuance listed on Euronext Dublin stock exchange. The bonds have a 4.25-year maturity with a call option in 3.25-year time.
Project Objectives
The project supports green economy in Latvia and strengthens Citadele's climate practices. It also supports capital market issuances by Baltic banks and contributes to the robustness of a systemic bank in Latvia against market and regulatory shocks.
Transition Impact
ETI score: 73
The expected transition impact of the project stems from its contribution to the Green and Resilient transition qualities.
Under the Green transition quality, Citadele will allocate an amount equivalent to at least 150% of EBRD investments to green projects in line with the Bank's GET eligibility criteria, thus contributing to Latvia's green ambition. The operation also aims to strengthen Citadele's climate practices in relation to the development and implementation of a comprehensive Transition Plan in accordance with the Paris Alignment methodology, effectively contributing to Latvia's climate transition priorities.
Under the Resilient transition quality, the project contributes to: (1) supporting capital market issuances by Baltic banks, and (2) enlarging international investors base for a Latvian issuer. The Bonds issued under the Project will contribute towards enhancing the robustness of a systemic bank in Latvia against market and regulatory shocks, thereby ensuring continued credit flow to the real economy, including for green projects and SMEs.
