Finland and Sweden secure EIB loan for forestry research
The European Investment Bank (EIB) is to send EUR 140 million to the Stora Enso Group for investment in forestry-related research in Sweden and Finland. The loan will support research and technological development until 2008 in the group's paper mills and dedicated research centres. It is intended to strengthen the Group's technological leadership in the sector, particularly in wood-based fibre products such as paper, board, pulp and timber. 'I very much welcome this continuation of the EIB's cooperation with the Stora Enso Group, particularly in view of its contribution to the implementation of the Lisbon process,' said EIB Vice President Sauli Niinistö. 'The EIB supports [research, development and innovation] projects in the Union as they are important in terms of strengthening the competitiveness of the European economy and creating new high quality job opportunities.' The EIB has so far lent some €45.7 billion to projects contributing to the Lisbon Agenda of strengthening Europe's economy so that it is the most competitive in the world by 2010.
Countries
Finland, Sweden