International Internet Magazine. Baltic States news & analytics
Wednesday, 01.10.2014, 00:55
The Riigikogu European Union Affairs Committee (EUAC) does not support the draft initiated by the European Commission on reducing the number of seats in the Committee of the Regions and the Economic and Social Affairs Committee by one per Member State; the reduction is to start with the least populous Member States, i.e. Estonia, Luxembourg and Cyprus, reports LETA.
Keyword tags: Estonia, EU – Baltic States, Funds, Legislation
The European Bank for Reconstruction and Development (EBRD) welcomes the decision by the government of Latvia to sell its stake in Citadele to a group of international investors led by the U.S. investment fund Ripplewood Holdings and Tim Collins, the founder and CEO of the fund, informs LETA.
The European Commission has revealed a list of 155 small and medium-sized enterprises (SMEs) from 21 states that will be first to benefit from the new €3 billion SME Instrument. These SMEs will each receive €50,000 to finance feasibility studies for their projects, and they can get up to three days of business coaching. After that, their projects may be considered for further financial support from the Commission worth up to €2.5 million.
The Latvian government has recognized the U.S. investors chosen as the most suitable buyers for Citadele Bank, as they are ready to pay an "honest price" at the same time offering a sound vision regarding the bank's development, one of the investors of the U.S. fund Ripplewood Holdings, Tim Collins, told LETA.
The Latvian Medical Association has established a fund to support victims of the Ukraine conflict, the association's spokeswoman Sendija Burka-Saicanova informed LETA.
The yet-undisclosed investors who plan to acquire 50% of the Citadele bank's shares are globally acclaimed financiers, Prime Minister Laimdota Straujuma (Unity) said in an interview with the LNT show "900 sekundes", cites LETA.
After several hours of debates, the government of Latvia on September 16th accepted the purchase offer from the U.S. fund Ripplewood Holdings for the purchase of Citadele bank, Prime Minister Laimdota Straujuma (Unity) told members of the press, while declining to comment on the conditions of the deal, cites LETA.