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AECM
EVCA
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About us

Until 15 April 2015 Latvian Guarantee Agency Ltd. (Latvijas Garantiju Aģentūra, SIA)  Ltd. operated as an independent, full spectrum development financial institution, which helped businesses to attract funding in the event of insufficient collateral with the purpose of facilitating their establishment, the growth and expansion of their operations. LGA issued loan guarantees, provided mezzanine loans, insured export transaction risks, as well as indirectly, by attracting financial intermediaries, provided risk capital funding and microloans.

On 15 April 2015, as the restructuring process was concluded, Latvian Guarantee Agency Ltd. (LGA), together with the State Joint Stock Company Latvian Development Financial Institution Altum (ALTUM) and the State Joint Stock Company Lauku attīstības fonds (Rural Development Fund) (RDF) merged into a unified institution - JSC Development Finance Institution Altum. All the shares of unified institution owned by the state – shareholders are Ministry of Economics, Ministry of Finance and Ministry of Agriculture Industry.  

The unified institution JSC Development Finance Institution Altum shall take over all rights and liabilities of LGA, as well as ensure the continuity of the support programmes implemented by LGA and cooperation with the customers. Information on all services and state support programmes previously serviced by LGA, is available at the regional centres of the JSC Development Financial Institution Altum and consultation bureaus throughout Latvia.

The objective of JSC Development Finance Institution Altum (Altum) is to use state support financial instruments in order to provide efficient and professional support to certain target groups in the form of financial instruments (loans, guarantees, investments in risk capital funds, etc.), supplemented by non-financial support (consultations, training, monitoring, etc.) within the framework of particular programmes, as well as to implement other functions delegated by the state.