KredEx loan to Nordica in spring 2024.
Session: 15th Riigikogu, 5th session, information briefing
Date: 2025-01-15 14:28
Participating Politicians:
Total Speeches: 17
Membership: 15
Agenda Duration: 15m
AI Summaries: 17/17 Speeches (100.0%)
Analysis: Structured Analysis
Politicians Speaking Time
Politicians
Analysis
Summary
The present session addressed KredEx's loan to Nordica and the connections between Nordica and KredEx that occurred in the spring view of 2024. In the first question, Priit Sibul raised the issue of why and on whose decision a loan was provided to Nordica or previous loan collateral was liquidated in the spring of 2024, and whether and how cooperation has taken place in the context of a special audit and in the direction of the prosecutor's investigation. The second part of the discussion focused on the historical background: the loan agreement between KredEx and the Ministry of Economic Affairs and Communications concluded between 2020 and 2021, and the working capital loan granted to Nordica, as a result of which loan disbursements have been made over several years. Immediately following were questions regarding the contract with the Knightwood Global consulting firm and the responsibility of the climate minister, referring to conflicts of interest and the impact of current events on Nordica’s economic situation. The session concluded with an emphasis on refutations, risks raised, and the prosecutor’s independent investigation within the context of cases that have ended up in legal proceedings and the results of the special audit; at the end of the discussion, in accordance with the protocol, the form of the proceedings and the subsequent plan of action were also brought to the table.
Decisions Made 1
In this sitting, no new resolutions of the Riigikogu were made; the discussion focused on the loan matters of Nordica KredEx, the results of the special audit, the further cost of the prosecutor's office investigation, and information available to the public.
Most Active Speaker
Anastassia Kovalenko-Kõlvart, Member of the Riigikogu, position: other
Esimees Lauri Hussar
AI Summary
Riigikogu member Priit Sibul asks Prime Minister Kristen Michal for a KredEx loan to Nordica in the spring of 2024.
Priit Sibul
Profiling Isamaa fraktsioonAI Summary
Priit Sibul asks in the Riigikogu why, in April 2024, Nordica was revived with one and a half million euros, although it was said that no additional money would be provided, referring to Nordica's 3.5 million KredEx loan, the July 17, 2023 meeting, and the state aid rules via KredEx.
Peaminister Kristen Michal
AI Summary
Prime Minister Kristen Michal confirmed that the government does not act in a corruption-related manner and that money is not being siphoned off, and explained to Nordea in 2020 the background of the eight-million-euro working capital loan provided through KredEx, as well as the loan repayment terms and the contractual framework, mentioned the results of the special audit and the criminal case, and stressed that the prosecutor's office is independent and that the materials from the special audit are partially accessible to the public and to the Riigikogu.
Esimees Lauri Hussar
AI Summary
The chairman, Lauri Hussar, thanks and asks Priit Sibul to present a clarifying question.
Priit Sibul
Profiling Isamaa fraktsioonAI Summary
Priit Sibul asked whether, after becoming aware of KredEx's very poor condition on June 17, 2023, the discussion of the loan's final installment took place only between Nordica and KredEx and did not touch the Ministry of Climate, Chancellor Kasemetsa, or anyone else, and noted that one and a half million is not something you can simply slip into your pocket.
Peaminister Kristen Michal
AI Summary
Prime Minister Kristen Michal confirms that KredEx is not in a bad state, explains that the Nordica issues have been repeatedly discussed by the government and are known to the public, and that in 2019 flights from Tallinn were halted; the state invested approximately 15 million in the airport, and although the risks were high, they almost led to privatization, which was supported by asset separation and as a result may yield proceeds from the sale of assets, and the Prosecutor's Office is compiling the results of a special audit.
Esimees Lauri Hussar
AI Summary
Chairman Lauri Hussar thanks and asks Anastasia Kovalenko-Kõlvarti to present an additional question.
Anastassia Kovalenko-Kõlvart
Profiling Eesti Keskerakonna fraktsioonAI Summary
Anastassia Kovalenko-Kõlvart accuses the prime minister of shifting responsibility elsewhere and demands a background check into the Knighthood Global consultancy contract, which pays 190,000 euros per month during the 2023 tenure of the climate minister, as well as a review of conflicts of interest and events surrounding the contract extension, because the contract was extended with knowledge of the company’s criminal investigation in Italy, and a partnership with a member of Nordica’s board raises questions about why the contract was not terminated and where the company came from.
Esimees Lauri Hussar
AI Summary
They thank and turn to Mr. Prime Minister with a plea.
Peaminister Kristen Michal
AI Summary
Prime Minister Kristen Michal says that Nordica's problems stem from negligent management and ignoring risks; the results of a special audit will clarify who is responsible and why, and privatization should have taken place as early as 2019; he is awaiting the results of the prosecutor's investigation to obtain answers.
Esimees Lauri Hussar
AI Summary
The chair, Lauri Hussar, thanks the participants, ends today’s discussion of the third question, and announces that a fourth Nordica-themed question will be brought up, but before proceeding with it the procedure for conducting the meeting will be discussed and they will turn to Anastassia Kovalenko-Kõlvarti.
Anastassia Kovalenko-Kõlvart
Profiling Eesti Keskerakonna fraktsioonAI Summary
The speaker asks how a company that had been under criminal investigation was able to carry out a consultancy for Nordicale, and why the climate minister at the time did not respond, emphasizing that the problems had existed earlier and focusing on the events that took place in 2023.
Esimees Lauri Hussar
AI Summary
Chairman Lauri Hussar thanks the listeners.
Anastassia Kovalenko-Kõlvart
Profiling Eesti Keskerakonna fraktsioonAI Summary
It is claimed that 190,000 was paid every month under a criminal investigation.
Esimees Lauri Hussar
AI Summary
Speaker Lauri Hussar thanks the audience.
Anastassia Kovalenko-Kõlvart
Profiling Eesti Keskerakonna fraktsioonAI Summary
The speech highlights that the existing consulting firm is being ignored, and this is a problem.
Esimees Lauri Hussar
AI Summary
The chair, Lauri Hussar, said that it was not a procedural question and that the form does not allow for presenting a counterstatement, so we must move on.