Financial Services, Latvia, Legislation, Markets and Companies

The aim of the law is to provide institutions with an efficient performance by implementing support and development programs, as well as ensuring the execution of state administration tasks stipulated in other regulations by applying state policies on national economy.

"The aim of the Development Finance Institution Law is to ensure an efficient performance by offering state support programs to Latvian business owners in order to achieve the state's strategic goals, contributing to agriculture development. The Development Finance Institution Law is one of the sections of the joint European Structural Funds 2014-2020 support system, executing all finance support and development programs under a single institution," Finance Minister Andris Vilks (Unity) says.

The law prescribes various support tools, such as loans, guarantees, export credits, export credit guarantees, export insurance funding, investments, etc.