Cooperation with the EIF allows Mano Bankas to contribute to supporting innovation
Mano Bankas, a Lithuanian specialised bank, has been cooperating with the European Investment Fund (EIF) since 2021.
On 15 October, 2021 Mano Bankas has signed a portfolio guarantee agreement with the European Investment Fund (EIF) in the context of the Pan-European Guarantee Fund (EGF), one of the EU-emergency measures agreed last year to help European workers and businesses.
The Pan-European Guarantee Fund (EGF) was created by the European Investment Bank Group (EIB & EIF) and EU Member States as a Community response to the then new COVID-19 pandemic. It aims to increase access to credit for businesses in the wake of the economic effects of lockdowns and restrictions to contain the COVID-19 outbreak.Thanks to the guarantee, Mano Bankas made available €50 million in new, more advantageous, lending to Mano Bankas customers.
With the agreement between the EIF and Mano Bankas signed on 18 October, 2022 in Luxembourg, the EIF will provide guarantees for loans under two key policy areas. The sustainability guarantee will support more than €25 million of new debt financing for small and medium-sized enterprises (SMEs) to contribute to Europe’s green transition. Projects to make services, products and infrastructure more accessible for people with disabilities are also eligible for these investments. A further €15 million of loans under the SME competitiveness guarantee will support small businesses that were negatively affected by the COVID-19 pandemic and have managed to stabilise their operations but need additional financing to refinance debt, strengthen working capital reserves and/or further invest in ongoing projects.
Cooperation with the EIF allows Mano Bankas to contribute to supporting innovation, strengthening competitiveness and promoting job creation and economic growth in Lithuania. “InvestEU” supports much-needed finance for businesses, innovation and infrastructure, and this programme helps accelerate green and sustainable transformation.
Companies benefiting from EIF-guaranteed loans
| Company name | Contract date | Contract amount, Eur | Loan purpose |
|---|---|---|---|
| “EXPRESS PRO T68” | 2022-04-20 | 1230600 | Financing of the Tunnel car wash complex |
| “Orner” | 2022-01-27 | 2209100 | Working capital financed (Real estate development) |
| “RASKO” | 2022-12-30 | 200000 | For property renovation work |
| “Akordas” | 2022-01-26 | 220000 | Acquisition of premises |
| “Legio baltica” | 2021-11-12 | 150000 | For the refinancing of liabilities and working capital financing |
| UAB “Mo Garden 1” | 2022-05-02 | 3000000 | Investment in residential development |
| “Integre Trans” | 2022-04-11 | 2500000 | Working capital financed (freight transport) |
| “Lini namai” | 2021-12-21 | 2932680 | For refinancing liabilities, acquiring real estate and developing a housing estate |
| “Teratus” | 2022-03-28 | 3000000 | Acquisition of immovable property (a plot of land for the development of a residential complex) and replenishment of working capital |
| “NT draudimo grupė” | 2022-05-18 | 2720000 | For refinancing of liabilities and investments in a subsidiary |
| “Rinvest” | 2021-11-03 | 3000000 | Working capital financed (Real estate development) |
| “Wooden Windows” | 2021-12-09 | 893450 | For the refinancing of liabilities and financing of working capital (Manufacture of wooden windows and doors) |
| “Kimitus” | 2021-12-22 | 2320000 | For refinancing liabilities |
| “Baltijos autonuoma” | 2022-03-29 | 3000000 | Working capital financed |
| “Sobeta” | 2022-01-18 | 964000 | Acquisition of photovoltaic solar power plants and plots |
| “Kasabas” | 2022-06-30 | 900000 | Acquisition of real estate |
| “Iskarijotas” | 2022-07-22 | 1800000 | Working capital financed (business activity – trading of solar power plant components) |
| “REWO” | 2021-11-30 | 1152900 | Acquisition of a plot of land for the development of a residential complex |
| GO TENNIS | 2022-06-14 | 2518470 | Construction and equipping of a sports complex |
| UAB Gerovės kapitalas | 2021-12-03 | 1280000 | Acquisition of a plot of land for the development of a residential house |
| “Wooden Windows” | 2022-02-15 | 1250000 | For the acquisition, repair and equipment of a manufacturing base for doors |
| “Gobelita” | 2022-03-01 | 3000000 | Acquisition of land for the development of a residential project |
| Litelektra | 2021-12-29 | 1069200 | For the acquisition of wind power plants |
| “REWO” | 2021-11-30 | 1847100 | For refinancing liabilities |
| “Lemanita” | 2022-09-30 | 200000 | Working capital financed (Real estate development) |
| “Mircon” | 2021-12-29 | 1442500 | For the development of a residential housing estate |
| “RASKO” | 2022-06-02 | 2200000 | Acquisition of real estate |
| “Gerota” | 2022-03-07 | 3000000 | Acquisition of a plot of land for the development of a residential project |
Related news
