Copie 110119 invega audrius zabotka


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Copie 110119 invega audrius zabotka

  1. 1. Financial engineering measure „Entrepreneurship Promotion”. Entrepreneurship Promotion Fund – for start ups<br />Audrius Zabotka<br />Deputy Director General<br />INVEGA<br />19 January 2011<br />Vilnius<br />1<br />
  2. 2. INVEGA - Investment and Business Guarantees. Ltd. (1) <br /><ul><li>UAB “Investicijų ir verslo garantijos” (INVEGA) - Investment and Business Guarantees, Ltd.</li></ul>Established by the Government of Lithuania, registered on 29th November 2001<br />Legal Status:<br /><ul><li>State owned 100 %, private limited liability company
  3. 3. Liabilities are encountered into the State Debt of Lithuania
  4. 4. State is responsible for all obligations undertaken by INVEGA</li></ul>The Ministry of Economy is in charge with responsibility for INVEGA’s creation and supervision<br />On 2004-03-05 INVEGA and European Investment Fund has signed a counter-guarantee agreement under the MAP<br />Executive institution for the Compensation of interest instrument financed by EU; under supervision of Ministry of Finance<br />Administration of Financial Engineering instruments (INVEGA fund, Guarantee fund and Entrepreneurship facilitation fund) – agreements between INVEGA, MoE, MoSA and MoF<br />2<br />
  5. 5. INVEGA - Investment and Business Guarantees. Ltd. (2) <br />Share capital EUR 7,5 m<br />2007-2013 EU SF total allocation EUR 140 m <br /><ul><li>ERDF allocation for Guarantees fund EUR 37 m
  6. 6. ERDF allocation for INVEGA fund EUR 58 m
  7. 7. ERDF allocation for Compensation of interest EUR 30 m
  8. 8. ESF allocation for Entrepreneurship fund EUR 15 m</li></ul>Mission of INVEGA:<br />- to promote the development and competitiveness of Lithuanian SMEs in the knowledge based economy facilitating access to financing and creation of new jobs<br />Structure and personnel – 25 employees <br />3<br />
  9. 9. Financial instruments administered by INVEGA and funded by EU <br />Grant for Compensation of interest<br />National budget from 2002<br />ERDF from April 2009<br />GUARANTEE fund<br />national budget from 2001<br />ERDF from August 2009<br />INVEGA fund ERDF from April 2009<br />Small credits 2<br />Open credit fund <br />Micro credits instrument PHARE from August 2006 <br />Small credits 1 - from national budget April 2009<br />IV. ENTREPRENEURSHIP facilitation Fund ESF from December 2009<br />4<br />
  10. 10. Map of Financial instruments managed by INVEGA <br />2007-2013 EU SF (ERDF) <br />administered by MoE (Economy Growth OP)<br />Economic Growth programme EUR 125 m<br />2007-2013 EU SF (ESF) <br />administered by MoSA<br />Human Recourses Development Programme EUR 15 m <br />National budget<br /> MoE programmes<br />GUARANTE fund<br />(EUR 37m)<br />INVEGA Fund <br />(EUR 58 m)<br />ENTREPRENEURSHIP FACILITATION fund<br />(EUR 15 m)<br />Compensation of interests<br />(EUR 30 m)<br />Small-credits_2(EUR 29 m)<br />Open Credit Fund <br />(EUR 39 m)<br />Small-credits_1(EUR 6 m)<br />Micro credits for start up <br />(EUR 15 m)<br />Guarantees<br />(EUR 112 m)<br />5<br />
  11. 11. Entrepreneurship facilitation fund<br />The programme for Entrepreneurship facilitation <br />ESF from December 2009<br />term up to 31 Dec 2015<br />Entrepreneurship facilitation fund budget: EUR 15 m <br /><ul><li>Co-operation agreements with the Central credit Union (+57 members)</li></ul>Entrepreneurship fund:<br /><ul><li>Credits for start up SME (legal entities and individuals) - <1 year
  12. 12. Targets for 1200 SME credits with 5000 trained SME
  13. 13. Credit up to LTL 86 thousands (EUR 25 thousands) for one credit per SME
  14. 14. Credit up to 90 % financed by ESF and 10 % credit institution
  15. 15. Dedicated not less 15 % (for loans) to 30 % (for trainings) of beneficiaries from target group </li></ul>State aid scheme: de minimis (restricted sectors: under de minimis rules)<br />Administrated by MoSa <br />6<br />
  16. 16. Implementation of EFF<br />7<br />
  17. 17. Results achieved so far<br />As of today:<br /><ul><li>Number of the individuals registered for the trainings – 2218
  18. 18. Number of the individuals attended the trainings – 2104
  19. 19. Number of the loans already disbursed by CU – 9
  20. 20. Number of the guarantees issued on the EFF loans - 8</li></ul>8<br />
  21. 21. Contacts<br />UAB „Investicijų ir verslo garantijos“ (INVEGA)<br />(Investment and Business Guarantees, Ltd.)<br />Konstitucijos pr. 7 (16th floor), LT-09303 Vilnius<br />Tel. +370 5 210 7510, faks. +370 5 210 7511<br />Email to:<br /><br />9<br />