European  Investment  Bank  (EIB)  has  issued  a credit line to Pirmā

banka,  to  be used for on-lending to small and medium-size enterprises

(SME)  as  long-term  credits.  Private,  state  and  local  government

enterprises will be able to receive loans at competitive interest rates

for implementation of various projects.

According to the terms and conditions of the loan agreement between EIB

and  Pirmā  banka,  enterprises  with  net  fixed  assets  under EUR 75

million,  with  the  number  of  employees  under 500 and not more than

one-third  owned by another company not meeting these criteria, will be

eligible to the loan.

The  total  value  of  the  credit line is EUR 10 million, which may be

increased  in case of successful co-operation. The currency of the loan

will be LVL, USD or EUR, the maturity 3 or 4, or even up to 12 years.