The European Investment Bank signed a €10 million financing agreement with Latvian electronic system development and manufacturing company HansaMatrix. This agreement was made possible by the European Fund for Strategic Investments (EFSI), the heart of the Juncker Plan. The financing will support HansaMatrix's growth strategy based on the expansion of its manufacturing capacities and the ongoing shift from manufacturing to offering a full range of services...
The financing will also help the company boost its research and development activities. This is the first direct EFSI financing to a private company in the country, and comes on top of over 7,300 SMEs already financed in Latvia through intermediary banks and funds. All investments will be located in Latvia, at the company's existing sites near Riga, Pārogre and Ventspils. Commission Vice-President Valdis Dombrovskis said: "I'm pleased to see that financing under the Juncker Plan is also now going to the private companies of the manufacturing sector. I hope that more Latvian companies follow the same example soon, as the Juncker Plan represents an opportunity for businesses to get access to much needed finance, launch new products and expand beyond their local markets." By November 2018, the Investment Plan had already mobilised €360 billion of investment across Europe, including almost €960 million in Latvia, and supported 850,000 small and medium businesses. A press release is available here. 