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InvestEU: Agreement between EIF and Orion Leasing offers €52.8 million in fresh funding for Lithuanian companies

  •  
    Date: 19 December 2022
  • The agreement between UAB Orion Leasing and the European Investment Fund (EIF) will guarantee €52.8 million in new leasing and micro loans for Lithuanian businesses.
  • Thanks to an InvestEU guarantee, Orion Leasing can provide access to financing with attractive pricing and lower down payments.

UAB Orion Leasing and the European Investment Fund (EIF) have signed a guarantee agreement under the new InvestEU Programme for €52.8 million in new financing in the form of leasing contracts and micro loans. The InvestEU guarantee will support financing across five key EU policy priorities: SME competitiveness, sustainability, microfinance, culture and creativity, skills and education.

With this guarantee, Orion Leasing will be able to offer financing for Lithuanian SMEs, small mid-caps and micro companies with lower initial down payments than the standard and more attractive pricing conditions. Funding will also be provided as micro loans by Orion 1 (under Orion Leasing brand) to microenterprises with difficulty accessing credit. Part of the funding will advance the uptake of environmentally friendly, green and inclusive investments and support enterprises active in the cultural and creative sectors, or in skills and education.

“For us, a young and dynamic company, the InvestEU Programme is a big win,” said Laimonas Belickas, CEO of Orion Leasing. “With a guarantee of €52.8 million, we will be able to confidently finance micro, small and medium-sized enterprises that are perceived as high risk, and lack sufficient financing options even when they may have strong potential. For most of the products, the guarantee will be valid for financing not only in Lithuania, but throughout the European Union. This will help expand Orion Leasing's offer to customers in other countries as well.”

Commissioner for the Economy Paolo Gentiloni said, “The InvestEU Programme is playing an important role in helping businesses across Europe access the funds they need to innovate, grow and create jobs. These are the SMEs, small mid-caps and micro companies that will power our future economic growth. I am delighted that, thanks to the support of InvestEU, more Lithuanian businesses can unlock the funds needed to allow them to achieve their full potential.”

“Our new cooperation with Orion Leasing will provide much-needed support to small and medium-sized companies in Lithuania,” said Thomas Östros, Vice-President of the European Investment Bank. “With the support of the Investment Plan for Europe and with this guarantee, these businesses will have access to lines of funding at favourable interest rates. This will ultimately raise the competitiveness of the economy.”

EIF Chief Executive Alain Godard remarked, “We at EIF are proud to support SMEs in Lithuania. The war in Ukraine and the related sanctions may have significant repercussions on the European economy and especially SMEs, which are still recovering from the COVID-19 crisis. With this second InvestEU transaction in Lithuania, we hope to give an extra boost to Lithuanian businesses and economy.”

Background information

The InvestEU Programme will provide the EU with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It will also help mobilise private investments for the EU's policy priorities, such as the European Green Deal and the digital transition. The programme has three components: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund will be implemented through financial partners who will invest in projects using the EU budget guarantee of €26.2 billion. The entire budgetary guarantee will back the investment projects of the implementing partners, and increase their risk-bearing capacity to mobilise at least €372 billion in additional investment.

The European Investment Fund (EIF) is part of the European Investment Bank Group. Its central mission is to support Europe's micro, small and medium-sized enterprises (SMEs) by helping them access financing. The EIF designs and develops venture and growth capital, guarantees and microfinance instruments that specifically target this market segment. In this role, the EIF contributes to the pursuit of key EU policy objectives like competitiveness and growth, innovation and digitalisation, social impact, skills and human capital, climate action and environmental sustainability, and more.

UAB Orion Leasing was established in May 2021, and has since lent over €17 million to businesses operating in Lithuania. The company primarily finances manufacturing and IT equipment, mobility equipment and machinery for transport, agriculture and construction, among other industries. It has also been successful in developing alternative financing models for solar, energy and trade companies.

Press contacts

EIB Group: Kristiina Randmaa, k.randmaa@ext.eib.org, Tel.: +352 4379 72894
Website: www.eib.org/press — Press office: +352 4379 21000, press@eib.org

Orion Leasing: Vilius Mackonis, vilius@virtuozai.lt, Tel.: +370 655 51101

European Commission: Flora Matthaes, Press Officer, +32 229 83951, flora.matthaes@ec.europa.eu

Note: Following the recent withdrawal of the United Kingdom from the European Union, we are updating the relevant EIF.org pages.

 
 

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