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LGA

Information on implementation process of ERDF activity 2.2.1. 3 . “ Guarantees for development of enterprise competitiveness” ( Implementor - Latvia n Guarantee agency ). LGA. 2 state aid pogramms designed: Competativeness (credit) guarantees Short-term export credit guarantees

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LGA

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  1. Information on implementation process of ERDF activity 2.2.1.3.“Guarantees for development of enterprise competitiveness”(Implementor- Latvian Guaranteeagency)

  2. LGA • 2 state aid pogramms designed: • Competativeness (credit) guarantees • Short-term export credit guarantees • Budget of the activity – 60,5 MLVL • Statutory capital – 79 MLVL: • 11,5 MLVL – ERDF 2005-2008 guarantee programme • 7 MLVL – ERDF 2005-2008 venture capital programme • 60,5 MLVL – ERDF 2007-2013credit and short-term export credit guarantee programme

  3. ERDF 2007-2013 • Competitiveness (credit) guarantees: • OpenedsinceApril 20, 2009 • Focusonmanufacturingsector • Max amount 3 MEUR, max risk 80% • PortfolioasofMarch 1st, 2010: • 337guaranteesfor112companiesfortotalamount - 39,7 MLVL • Provisionforlosses 0,88 MLVL • Only one compensation claim has been submitted to Latvian Guarantee Agency (LGA) for amount of 67 727 EUR – guarantee was issued for loan for current assets

  4. Credit guarantees

  5. ERDF 2007-2013New deal vs Guarantees for existing financial obligations

  6. ERDF 2007-2013 • Short-termexportcreditguarantees: • OpenedsinceJuly 1st, 2009 • Max amount1 MEUR, max risk 90% • Provided to countries that are not members of the European Union or members of the following countries of OECD – Australia, Canada, Iceland, Japan, New Zealand, Norway, Switzerland and the United States of America • PortfolioasofMarch 1st, 2010 : • 20 agreementssignedfortotalamount -1,35 MLVL • Countries: Russia, Belarus, Azerbaijan, Kazakhstan, Georgia

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