LATVIA – Business
On approving amendments to Cabinet of Ministers Resolution No 503 of 6 July 2021 “Rules for granting loans with preferential capital for implementation of investment projects for entrepreneurs in order to increase competitiveness“, adopted by the government this year.
At a meeting on 18 October, additional funding of EUR 52.5 million was granted to entrepreneurs to implement major investment projects as part of a closed qualification round.
A closed qualifying round will be organised to allocate additional support. Under this round, the applications of all the vendors received under the 1st qualifying round of the Credit Programme will be evaluated.
In the closed round, LIAA will give preference to the criterion specified in the application submitted by the entrepreneurs – the planned export volume of goods or services in relation to the planned amount of eligible cost investment for which the applicant is applying.
Accordingly, all applications will be ranked according to this export criterion. The Agency’s decision will be based on the seller’s consent to participate in the closed round using the documents received in the first round of selection, i.e., the merchant will not be able to change the information already included in the application in the closed round.
Details on the amendments to Cabinet of Ministers Resolution No. 503 of 6 July 2021 “Regulations for capital discount loans for investment projects for businesses to promote competitiveness” can be found on the Portal of Legal Acts.