20 million lats re-distributed for guarantees for enhancement of competitiveness of commercial entities
On Tuesday, July 14, the Government approved amendments to the Operational Programme “Entrepreneurship and Innovations” Complement to re-distribute the European Union (EU) financing in amount of 20 million lats to the activity “Guarantees for enhancement of competitiveness of commercial entities”, including for granting state export credit guarantees.
Amendments to the Operational Programme Complement have been developed according to the decision made by the CoM on July 7 on re-distribution of the financing within the Operational Programme “Entrepreneurship and Innovations”.
By granting state guarantees it is planned to maintain export volume and jobs, facilitate external trade balance and such macroeconomic indicators as gross domestic product and increase in the state budget income.
According to the decision of the Cabinet of Ministers the priority “Accessibility of Financial Resources” has been supplemented with a new performance indicator in the activity “Guarantees for enhancement of competitiveness of commercial entities” – commercial entities having received short-term export guarantees. Thus it is planned that till the end of 2013 short-term export credit guarantees will be granted to 100 commercial entities.
Simultaneously with amendments to the Operational Programme Complement the minimum total amount of eligible expenditure within the activity “High value-added investments” per project from 5 million lats to 3 million lats.
The EU funding available within the framework of the Operational Programme “Entrepreneurship and Innovations” is 737 million euro or 16% of total European Social Fund, European Regional Development Fund and Cohesion Fund financing in amount of 4.53 billion euro available in the programming period 2007–2013.
Information prepared by:
Elīna Dobulāne
Head of Press Division
Phone: 67083850, Elina.Dobulane@fm.gov.lv
