In times of economic crisis, swift yet carefully considered decisions are crucial. In 2020, to mitigate the impact of the coronavirus pandemic on the national economy, the State Aid Fund for Business (SAFB) was established – one of the most significant state financial instruments designed to support medium-sized and large enterprises. UAB Valstybės Investicinis Kapitalas contributed to the fund’s activities by allocating EUR 200 million as the sole limited partner.
The fund had two fundamental goals:
- to provide financing to companies facing temporary financial problems;
- to encourage the development of capital markets in Lithuania.
Enterprises could obtain financing through debt instruments or ordinary bond issues.
The structure of the SAFB is presented below:
Key information about the State Aid Fund for Business
| Indicator | Data |
| Legal form | Limited partnership (private legal entity with unlimited civil liability) |
| Fund manager | UAB Valstybės Investicijų Valdymo Agentūra (member of the National Development Bank ILTE Group) |
| Source of capital | Sole limited partner – UAB Valstybės Investicinis Kapitalas |
| Licencing | The fund is not licenced and is not directly supervised by the Bank of Lithuania |
| Start of operations | 13 October 2020 |
| Forms of financing | Loans, bond and stock redemptions, mixed financial instruments |
| End of investment | 1 July 2022 |
Key clients of the State Aid Fund for Business and their sectors of activity
Pagrindinė informacija apie UAB „Valstybės investicinis kapitalas“ įnašą į KŪB ,,Pagalbos verslui fondas“
| Indicator | Data |
| Total investment amount | EUR 200 million |
| Limited partner | UAB Valstybės Investicinis Kapitalas |
| Form of investment | Limited partner contributions |
| Supervision | Delegated to the SAFB Advisory Committee:
|
| Contributions to the SAFB by year | 2020 – EUR 7 million 2021 – EUR 143 million 2022 – EUR 50 million |
| Yield | Depending on the contribution, from 1.83% to 5.91% |
| Capital returns from the SAFB | 2022 – EUR 1 million 2023 – EUR 1.5 million 2024 – EUR 20 million 2025 – EUR 26 million |