Investment & Fund Management

Latvian lender BluOr Bank has entered into an agreement with the European Investment Fund (EIF) to facilitate up to €30 million in financing aimed at supporting small and medium-sized enterprises (SMEs) in Latvia that are pursuing green upgrades. This initiative is part of the EU's InvestEU programme, which underscores the commitment to environmentally sustainable growth. The financing will specifically target SMEs engaged in projects that combat climate change and promote sustainable business practices.

The tailored solution provided by the EIF includes guarantees that enable BluOr Bank to offer loans on advantageous terms, such as lower interest rates, making it easier for companies with insufficient collateral to access necessary funding. This collaboration is designed to assist local businesses in navigating the green transition by investing in sustainable practices, such as upgrading manufacturing processes to meet EU environmental standards, enhancing energy efficiency, and deploying renewable energy sources like solar and wind.

As a result of this partnership, BluOr Bank anticipates that the increased accessibility to financing will not only support the growth of local businesses but also enhance their resilience against future challenges. The EIF's backing is expected to significantly expand the capacity for SMEs to implement green initiatives, thereby contributing to a more sustainable economic landscape in Latvia.