Agriculture, Financial Services, Funds, Good for Business, Investments, Latvia, Markets and Companies

Altum representatives said that agriculture is the largest sector in the portfolio of Altum loans and guarantees. Last year Altum issued EUR 44 million to farmers, mostly to grain farmers (46 percent), dairy farmers (20 percent) and mixed farmers (13 percent).

The fourth largest segment is individual farmer or self-employed farmers for whom Altum often is the only way to start development. The main support instruments ensured by Altum are loans for purchase of farmlands, investments, financing for current assets, small loans in rural territories and services of the Land Fund.

Altum board member Jekabs Krievins said that this year farmers' activity is quite high - there is interest in loans for purchase of land and construction of buildings, there is interest in purchase of new equipment.

Altum also reminded that the Latvian Rural Consultation Center specialists will help farmers to assess return of investments.

Altum is a state-owned development finance institution, which offers state aid for various target groups with the help of financial instruments (such as loans, credit guarantees, investing in venture capital funds, etc.). Altum develops and implements state aid programs to compensate for the market's shortcomings that can't be solved by private financial institutions. Altum shareholders are the ministries of economics, finance, and agriculture.