How Latvia ranks within EU countries
Total investment
March 2022
- Total financing under the European Fund for Strategic Investments (EFSI) in Latvia amounts to €258 million and is set to trigger €1.4 billion in additional investments
Infrastructure and innovation projects
- 11 approved projects financed by the European Investment Bank (EIB) with EFSI backing
- approximately €220 million in total financing
- set to trigger €926 million in total investment
Small and medium enterprises (SMEs)
- 9 approved agreements with intermediary banks or funds financed by European Investment Fund (EIF) with EFSI backing
- €37 million in total financing
- set to trigger approximately €511 million in investments with some 22,198 SMEs and mid-cap companies expected to benefit from improved access to finance
Examples of projects supported by the Investment Plan in Latvia
Research and study centre: UNIVERSITY OF LATVIA
The EIB is lending the University of Latvia €30 million backed by the Juncker Plan to build state of-the-art research and study facilities. The loan will help finance the construction and furnishing of two buildings in the new Tornakalns campus. This will bring together a large portion of the university’s activity in one area, making it more convenient not only for the administration, but also for the teachers and students.
Finance for very small businesses: ALTUM
Thanks to a guarantee agreement with the European Investment Fund, Latvia’s state-owned development institution ALTUM is providing €15 million in loans to 600 microbusinesses in Latvia between 2018 - 2021. The EIF agreement was signed under the EU Programme for Employment and Social Innovation and is backed by the Juncker Plan. Micro-entrepreneurs will be able to benefit from loans at a reduced interest rate with lower collateral requirements. ALTUM will primarily target start-ups and small businesses, including young people with little business experience.
Supporting innovation: HANSAMATRIX
Latvian tech start-up HansaMatrix has received €10 million in financing to expand its production capacity and boost its research and development activities. HansaMatrix develops electronic systems and services that are used in a wide range of areas such as imaging, medical equipment and manufacturing. HansaMatrix was the first private company in Latvia to receive direct financing from the EIB under the Juncker Plan.
Full list of EFSI-backed projects approved by the EIB
Full list of EFSI-backed agreements with financial intermediaries signed by the EIF