All agreed loans

Finland. Finnvera Oyj

Date of agreement: 26 Aug 2016
Country: Finland
Customer: Finnvera Oyj
Amount in USD: USD 225 million
Amount in EUR: EUR 199.3 million
Maturity: 9.5 years
NACE sector / loan type: Manufacture of pulp, paper and paper products
Business area: Financial institutions and SMEs


The loan has been provided for onlending to Fibria Celulose S.A. to finance the development and construction of a new pulp production line in the company’s existing facility in Três Lagoas, located in the state of Mato Grosso do Sul, south-western Brazil. The funding will be provided to Fibria through the Finnish state export credit agency Finnvera.

The new production line will be the second largest eucalyptus kraft bleaching pulp production line in the world. It will increase the capacity of the Três Lagoas pulp mill from the current 1.3 million tonnes of pulp a year to 3.05 million tonnes. The project includes supplies from the Finnish industrial equipment manufacturer Andritz Oy. The new line is expected to start production in the fourth quarter of 2017.

The Brazilian forestry company Fibria Celulose S.A. is the world’s leading eucalyptus pulp producer. The pulp produced by Fibria is exported to more than forty countries.

Fulfilment of NIB's mandate

Manufacturers located in the Bank’s member countries are responsible for the most part of the industrial equipment supplies to Fibria’s pulp production line. Participating in large projects and advancing into growth markets is an efficient way for industry leaders in the Nordic-Baltic region to maintain their technological leadership and international competitiveness.

Sustainability summary

This is a project with a potentially extensive environmental and/or social impact (category A, read more)

Fibria’s new eucalyptus kraft bleaching pulp production line will be based on supplies from eucalyptus plantations covering 2,940 square kilometres surrounding the mill. Biodiversity issues connected to the plantations and the recreation of new areas with indigenous flora are performed satisfactorily. Fibria is keen on maintaining a Forest Stewardship Council certification for its eucalyptus plantations and wood supply.

Press release

NIB och Finnvera finansierar ett bruk för eukalyptusmassa i Brasilien


Press release

NIB ja Finnvera rahoittavat uutta eukalyptussellutehdasta Brasiliassa