CORRECTION: Establishment of fund
Inside information, 2020-05-06 09:54 CEST --
Specified size of the fund.
In accordance with the mandate that the government will give to JSC Development Finance Institution Altum, a fund will be established to support companies affected by the Covid-19 crisis. The fund will invest in companies' capital, make quasi-equity investments and investments in corporate bonds of up to EUR 10 million, supporting viable companies impacted by temporary difficulties caused by the COVID-19 crisis. The fund will combine public and private funding, and the amount of public funding is projected at EUR 50 million. The fund will be managed by ALTUM. The fund will commence operations after the European Commission takes a decision on its compliance with the European Union's internal market rules.
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