Latvia: EIB supports ALTUM to help Latvian businesses

Together with the Latvian Ministry of Economy, in mid-March Altum launched a EUR 200m Covid-19 Working Capital Loan Programme, a support mechanism for Latvian businesses impacted by the Covid-19 crisis. To expand the capabilities of this programme to safeguard Latvian businesses and jobs, in July the European Investment Bank lent ALTUM €80 million in Covid-related financing. The Government of the Republic of Latvia provided additional €50 million. So far, the European financing has helped ALTUM to support 475 Latvian companies, thus making sure that more than 1580 people’s jobs were safeguarded.

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