EIB Funds €435 Million Loan to Stora Enso for Green Packaging Innovation

The investment will enable Stora Enso to introduce a new production line, offering global clients cost-effective alternatives to plastic packaging.

The European Investment Bank (EIB) has allocated a €435 million credit facility to Stora Enso, a leading forestry company, aimed at advancing sustainable packaging solutions for food and personal care products. The loan supports a significant upgrade of Stora Enso's manufacturing site in Oulu, where the company has already invested €1 billion in producing reusable, fiber-based, and recyclable packaging.

The investment will enable Stora Enso to introduce a new production line, offering global clients cost-effective alternatives to plastic packaging. Plastic, derived from fossil fuels, contributes to climate change and poses environmental hazards by polluting soil, oceans, and rivers worldwide.

"This loan marks a substantial stride towards a plastic-free world, promoting an economy founded on innovation and sustainability within a circular, carbon-neutral framework," remarked EIB Vice-President Thomas Östros. "Stora Enso's solutions exemplify how the green economy can drive growth, foster development, and create jobs. We are proud to support European innovation that advances global climate efforts, enhances environmental stewardship, and promotes economic resilience in Finland, the EU, and beyond."

In bolstering a major bioeconomy initiative in Oulu, the EIB not only enhances the competitiveness of EU industries but also stimulates economic growth and developmental prospects in Northern Finland. This initiative reinforces economic and social cohesion across EU regions.

"This new financing from EIB not only provides us with financial flexibility but underscores our commitment to sustainable and profitable growth," noted Kaarlo Höysniemi, Senior Vice-President of Group Treasury at Stora Enso. "Securing long-term capital from diverse sources is integral to our strategy, enabling us to pursue new growth opportunities."

The EIB loan aligns with key EU initiatives such as the European Green Deal, bioeconomy strategy, and circular economy action plan, reinforcing Europe's leadership in sustainable development and environmental stewardship.