EIF counter-guarantee under MAP Loan Window for INVEGA (Lithuania)

EIF has signed a EUR 13.6m loan guarantee agreement under the framework of the European Commission's "Multiannual Programme for Enterprise (MAP)" with the Lithuanian limited liability company INVEGA. Established in 2001 and 100% owned by the Lithuanian State, INVEGA 's objective is to support Lithuanian SMEs by extending guarantees on investment loans provided by banks to micro and small companies with up to 50 employees. INVEGA is the only institution with such a mission in Lithuania. By entering into this agreement, the sixth one signed in the Acceding and Accession Countries under the MAP Guarantee Facilities, EIF will for the first time cooperate with a guarantee intermediary in Lithuania. Eligible guarantees to be covered would be referenced to medium and long-term investment loans. Additionality is measured in terms of increased volumes of INVEGA's first installment guarantees, an innovative guarantee product aimed at supporting small businesses in Lithuania.