copie 110119 invega audrius zabotka
DESCRIPTION
TRANSCRIPT
![Page 1: Copie 110119 invega audrius zabotka](https://reader036.vdocuments.us/reader036/viewer/2022082804/54b546c34a7959db3b8b4691/html5/thumbnails/1.jpg)
1
Financial engineering measure „Entrepreneurship Promotion”. Entrepreneurship Promotion Fund – for start ups
19 January 2011Vilnius
Audrius ZabotkaDeputy Director General
INVEGA
![Page 2: Copie 110119 invega audrius zabotka](https://reader036.vdocuments.us/reader036/viewer/2022082804/54b546c34a7959db3b8b4691/html5/thumbnails/2.jpg)
• UAB “Investicijų ir verslo garantijos” (INVEGA) - Investment and Business Guarantees, Ltd.
• Established by the Government of Lithuania, registered on 29th November 2001• Legal Status:• State owned 100 %, private limited liability company• Liabilities are encountered into the State Debt of Lithuania• State is responsible for all obligations undertaken by INVEGA• The Ministry of Economy is in charge with responsibility for INVEGA’s creation and
supervision• On 2004-03-05 INVEGA and European Investment Fund has signed a counter-
guarantee agreement under the MAP• Executive institution for the Compensation of interest instrument financed by EU;
under supervision of Ministry of Finance• Administration of Financial Engineering instruments (INVEGA fund, Guarantee fund
and Entrepreneurship facilitation fund) – agreements between INVEGA, MoE, MoSA and MoF
2
INVEGA - Investment and Business Guarantees. Ltd. (1)
![Page 3: Copie 110119 invega audrius zabotka](https://reader036.vdocuments.us/reader036/viewer/2022082804/54b546c34a7959db3b8b4691/html5/thumbnails/3.jpg)
• Share capital EUR 7,5 m• 2007-2013 EU SF total allocation EUR 140 m
• ERDF allocation for Guarantees fund EUR 37 m• ERDF allocation for INVEGA fund EUR 58 m• ERDF allocation for Compensation of interest EUR 30 m• ESF allocation for Entrepreneurship fund EUR 15 m
• Mission of INVEGA:- to promote the development and competitiveness of Lithuanian SMEs in the knowledge based economy facilitating access to financing and creation of new jobs
• Structure and personnel – 25 employees
3
INVEGA - Investment and Business Guarantees. Ltd. (2)
![Page 4: Copie 110119 invega audrius zabotka](https://reader036.vdocuments.us/reader036/viewer/2022082804/54b546c34a7959db3b8b4691/html5/thumbnails/4.jpg)
I. Grant for Compensation of interest1) National budget from 20022) ERDF from April 2009
II. GUARANTEE fund1) national budget from 20012) ERDF from August 2009
III. INVEGA fund ERDF from April 2009
• Small credits 2• Open credit fund
– Micro credits instrument PHARE from August 2006 – Small credits 1 - from national budget April 2009
IV. ENTREPRENEURSHIP facilitation Fund ESF from December 2009
4
Financial instruments administered by INVEGA and funded by EU
![Page 5: Copie 110119 invega audrius zabotka](https://reader036.vdocuments.us/reader036/viewer/2022082804/54b546c34a7959db3b8b4691/html5/thumbnails/5.jpg)
5
Map of Financial instruments managed by INVEGA
2007-2013 EU SF (ERDF)
administered by MoE (Economy Growth OP)
Economic Growth programme EUR 125 m
Compensation of interests
(EUR 30 m)
GUARANTE fund(EUR 37 m)
INVEGA Fund (EUR 58 m)
Small-credits_2 (EUR 29 m)
Open Credit Fund
(EUR 39 m)
National budget
MoE programmes
Small-credits_1 (EUR 6 m)
2007-2013 EU SF (ESF)
administered by MoSA
Human Recourses Development
Programme EUR 15 m
ENTREPRENEURSHIP FACILITATION fund
(EUR 15 m)
Micro credits for start up
(EUR 15 m)
Guarantees(EUR 112 m)
![Page 6: Copie 110119 invega audrius zabotka](https://reader036.vdocuments.us/reader036/viewer/2022082804/54b546c34a7959db3b8b4691/html5/thumbnails/6.jpg)
• The programme for Entrepreneurship facilitation 1) ESF from December 20092) term up to 31 Dec 2015
• Entrepreneurship facilitation fund budget: EUR 15 m • Co-operation agreements with the Central credit Union (+57 members)• Entrepreneurship fund:• Credits for start up SME (legal entities and individuals) - <1 year • Targets for 1200 SME credits with 5000 trained SME • Credit up to LTL 86 thousands (EUR 25 thousands) for one credit per SME• Credit up to 90 % financed by ESF and 10 % credit institution• Dedicated not less 15 % (for loans) to 30 % (for trainings) of beneficiaries from target group • State aid scheme: de minimis (restricted sectors: under de minimis rules)• Administrated by MoSa
6
Entrepreneurship facilitation fund
![Page 7: Copie 110119 invega audrius zabotka](https://reader036.vdocuments.us/reader036/viewer/2022082804/54b546c34a7959db3b8b4691/html5/thumbnails/7.jpg)
7
Implementation of EFF
Activities Date
Signature of the threelateral agreement between MoSA, MoF and INVEGA
30 Dec 2009
International Public procurement launched 31 March 2010
Agreement between INVEGA and Consortium of CU signed 30 July 2010
First trainings started 20 Sept 2010
First loan issued 8 Nov 2010
![Page 8: Copie 110119 invega audrius zabotka](https://reader036.vdocuments.us/reader036/viewer/2022082804/54b546c34a7959db3b8b4691/html5/thumbnails/8.jpg)
8
Results achieved so far
Name of the indicator Measure
indicatorResults as of 01 Jan 2011
Implementation, %
Number of the individuals attended the trainings 4500 1994 44,3%Number of the individuals from the prioritized groups attended the trainings
1500 1193 79,5 %
Number of the loans already disbursed by CU 1200 8 1,5 %
Number of the loans already disbursed by CU to the representatives of the prioritized groups
180 8 4,4 %
As of today:• Number of the individuals registered for the trainings – 2218• Number of the individuals attended the trainings – 2104• Number of the loans already disbursed by CU – 9• Number of the guarantees issued on the EFF loans - 8
![Page 9: Copie 110119 invega audrius zabotka](https://reader036.vdocuments.us/reader036/viewer/2022082804/54b546c34a7959db3b8b4691/html5/thumbnails/9.jpg)
Contacts
UAB „Investicijų ir verslo garantijos“ (INVEGA)(Investment and Business Guarantees, Ltd.)Konstitucijos pr. 7 (16th floor), LT-09303 VilniusTel. +370 5 210 7510, faks. +370 5 210 7511Email to: [email protected]
9