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Aware: 2020-10-06 07:18
Photo by Judita Grigelyts (V)
One billion is released. Euro value business support fund to provide temporary support to medium and large Lithuanian companies affected by the coronavirus crisis.
On Tuesday, the Fund’s opening event will be attended and presented by the Minister of Finance Vilius Apoka, the Minister of Economy and Innovation Rimantas Sinkeviius, the Chairman of the Board of the Bank of Lithuania Vitas Vasiliauskas, the Director General of the State Agency of Investment Management (VIVA) Dainius Vilinskas.
Among the fund’s tasks, the preservation of the sector and its preparation for recovery are important for the economy, promoting the capital market, attracting institutional investors, and seeking investment returns for fund participants.
It has been announced that the fund will operate as a limited company and its limited partner will be the State Investment Capital of the company dependent on the Ministry of Economy and Innovation. VIVA, another company managed by the Ministry of Finance, was established for the Fund’s activities. The state invests 1 million in the capital of the latter company. EUR, and the first 100 million. EUR.
The government is expected to initially invest 100 million. EUR and will guarantee up to 400 million. Bonds worth EUR, which will be issued to raise additional funds for the fund. Another 500 million are expected. The euro will be attracted by the fund to a private investor. The EC approved Lithuania’s state aid scheme in May.
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