Published: 2020-01-14 08:58:20 CET
Attīstības finanšu institūcija Altum
Inside information

Major Goals and Assignments of JSC Development Finance Institution Altum in Year 2020

Inside information, 2020-01-14 08:58 CET -- On 8 January 2020 the extraordinary shareholders’ meeting of JSC Development Finance Institution Altum (Altum) having approved the operational plan and budget of Altum for year 2020 based on the Altum’s Mid-term Operational Strategy for 2019 - 2021 has identified the following major goals and assignments for Altum in year 2020:

1. Guarantees:

1.1. improvement of the Housing Guarantee Programme, including expansion of the range of beneficiaries;

1.2. digitalisation of the guarantees for enterprises.

2. Venture capital funds:

2.1. improvement of monitoring of venture capital funds;

2.2. maximisation of income through realisation of the investments made by the 2nd and 3rd generation venture capital funds.

3. Expansion of the energy efficiency programmes:

3.1. introduction of counter guarantees in co-operation with international financial institutions;

3.2. development of products for long-term funding of ESCO;

3.3. speeding up of implementation of the processes of the Programme for Improving Energy Efficiency in Multi-Apartment Residential Buildings.

4. Land Fund of Latvia:

4.1. substantial increase in the volume of the managed transactions anticipating a 50% rise in the volume of the fund’s portfolios.

4.2. issue of the bonds worth EUR 15-20 million for funding of the operations of the Land Fund.

5. New projects:

5.1. drafting of proposals for the financial instruments for the new programming period (2021 - 2027), preparatory works, including ALTUM Pillar Assessment;

5.2. introduction of the portfolio guarantees for studies;

5.3. financial instruments for innovative companies;

5.4. wider use of the guarantees of the international financial institutions for ALTUM loans under EUR 150 thousand.

         Laura Lapkovska
         JSC Development Finance Institution Altum, Investor Relations Division
         Telephone:+371 67774023, +371 26165699