Webinar: State Aid for business - who is eligible?

Thursday, April 30, 2020 - 12:00 to 13:00

 

On 30 April, we held a joint chamber webinar “State Aid for business - who is eligible?’’  which was led by Reinis Bērziņš, Chairman of the Management Board, Development Finance Institution ALTUM.

ALTUM is a state-owned development finance institution, which offers state aid for various target groups with the help of financial tools. All support instruments, approved by the government, have been developed in collaboration with the Ministry of Economics and approved by the European Commission. 

During this webinar, Reinis Bērziņš explained what financial support instruments are available to business affected by COVID-19 and who is eligible to State Aid support:

  • Working capital loan is liquidity support for businesses, farmers and those in the fisheries industry, whose activities have been affected by Covid-19;
  • For companies that have experienced objective difficulties in making loan repayments to banks due to the Covid-19 crisis, ALTUM offers a credit guarantee that will allow the bank to defer payment of the principal amount;
  • Restrictions on receiving export guarantees to the EU and certain OECD member states have been lifted till 31.12.2020. Now large companies can also apply for export guarantees to developed countries, regardless of the export turnover and the country to which transactions are planned, without imposing additional restrictions.

 

We would like thank Reinis Bērziņš for finding time to explain and highlight the support available to our members during our joint webinar.