Bank NORD/LB Latvia and European Investment Bank (EIB) have signed an agreement on credit facility of Ђ10m. The funds will be used for long-term lending to small- and medium-sized enterprises (SMEs).
Andris Ozolins, NORD/LB Latvia president, explained that SMEs are one of the target customer groups of NORD / LB Latvia. The bank has started intensive work on elaborating different financial products, which would be especially beneficial for ensuring the operation of SMEs.
Cooperation between European Investment Bank and NORD/LB Latvia started in 2002. To date NORD/LB Latvia has used an EIB credit facility of Ђ20m for SME loans.
Source: Dienas Bizness
