Al­tum and EIF pro­gramme to al­lo­cate 15 mil­lion eu­ros for busi­ness­men

Baltic News Network - - News -

Al­tum devel­op­ment fi­nance in­sti­tu­tion has signed a long-term co­op­er­a­tion agree­ment with Euro­pean In­vest­ment Fund, which will pro­vide guar­an­tees for busi­ness­men worth EUR 15 mil­lion as part of Cosme pro­gramme.

The new pro­gramme will pro­vide guar­an­tees for com­pa­nies that are not older than five years to re­ceive Al­tum loans with­out pledges. Non as­set-backed trans­ac­tions with the new pro­gramme will be avail­able in the next three years. The max­i­mum avail­able loan amount will be EUR 150,000, the in­sti­tu­tion ex­plains. «Thanks to Al­tum and EIF agree­ment, Lat­vian com­pa­nies will be able to use the op­por­tu­nity to re­ceive loans with­out se­cu­ri­ties. The new pro­gramme will fo­cus on new, sus­tain­able com­pa­nies with growth po­ten­tial. At the same time, we con­tinue work­ing on of­fers for non as­set-backed mi­cro loans to make them avail­able to a wider range of com­pa­nies. Cosme pro­gramme of­fers a new op­tion for Lat­vian busi­ness­men to ac­cess fund­ing from the so-called Juncker’s plan,» notes Al­tum chair­man Rei­nis Bērz­iņš.

Inna Štein­buka, head of Euro­pean Com­mis­sion’s of­fice in Latvia, ex­plains that EIF and Al­tum’s agree­ment about Cosme guar­an­tees for small and medi­um­sized com­pa­nies is not the only proof of func­tion­al­ity of Juncker’s plan in Latvia. «More than 500 mil­lion eu­ros will be at­tracted in in­vest­ments from this and other projects part of Juncker’s plan to as­sist with state devel­op­ment and cre­ate new op­por­tu­ni­ties for stim­u­la­tion of busi­ness ac­tiv­i­ties,» Štein­buka ex­plains.

REUTERS/SCANPIX

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