Banks, EU – Baltic States, Financial Services, Investments, Latvia, Legislation

International Internet Magazine. Baltic States news & analytics Thursday, 22.05.2025, 05:22

Hipoteku banka signs EUR 100 mln loan agreement with European Investment Bank

Nina Kolyako, BC, Riga, 05.10.2009.Print version
The state-owned Mortgage and Land Bank (Latvijas Hipoteku un zemes banka) signed a contract with the European Investment Bank on October 2 on allotment of EUR 100 million financing for the Cabinet of Ministers' program "Regulations on lending for promotion of development of micro, small and medium entrepreneurs and agricultural cooperative companies", according to the bank's statement published at NASDAQ OMX Riga website.

Hipoteku banka will receive the loan from the European Investment Bank upon approval of the state guarantee, writes LETA.

 

The government program, endorsed last month, foresees support for micro, small and medium-sized businesses and agricultural enterprises by offering loans for investments and/or increasing current assets.

 

The program stipulates that businesses that have economically viable business development plans but cannot obtain loans due to increased credit risks will be granted access to current asset loans of up to LVL 200,000 and investment loans of up to LVL 300,000.

 

The total amount of loan money available by December 31, 2013 will be LVL 142 million.

 

The European Investment Bank will provide LVL 71 million funding for the program; Hipoteku banka is holding talks with a number of other banks to attract LVL 71 million more.





← Back↑ Up

Русский
Search site