On December 21, 2022, the extraordinary meeting of shareholders of the joint-stock company "Development Financial Institution Altum", approving the operating plan and budget of JSC "Development Financial Institution Altum" for year 2023, according to the Mid-term Strategy 2022-2024 of the joint-stock company “Development Financial Institution Altum”, the following main goals and tasks of the Altum have been set for year 2023:

The main goal is to ensure the growth of the ALTUM's portfolio while maintaining a positive capital return and efficiency by implementing state support programmes.

1. Successful implementation of the programmes funded by Recovery and Resilience Facility, where the key supported areas are solutions to mitigate the impact of climate change, digitalization of companies and the construction of affordable housing, as well as investment loans with a capital rebate funded by the state budget.
2. Implementation of financial instruments for mitigating the consequences of the war in the Ukraine caused by the Russian Federation and prompt adjustment of the programme’s terms and conditions according to the changes in external environment.
3. Completion of the Pillar Assessment process so that ALTUM can qualify for implementation partner status of InvestEU in 2023.
4. Pay special attention towards assessment of environmental, social and corporate governance ("ESG") aspects, both within financing-related decisions as well as further improvement of ALTUM’s internal processes.

JSC Attīstības finanšu institūcija Altum (JSC Development Finance Institution Altum) is a Latvia state-owned company that ensures access of the enterprises and households to the financial resources by means of support financial instruments - loans, guarantees, investments in venture capital funds - in the areas defined as important and to be supported by the state, thus developing the national economy and enhancing mobilization of the private capital and financial resources. On 16 December 2022 Moody’s Investors Service (Moody’s) reaffirmed Altum’s Baa1 long-term issuer rating, with outlook stable. The baseline credit assessment (BCA) was reaffirmed at baa3 as well. The assigned Moody’s rating of Altum is one of the highest credit ratings assigned to corporate entities in Latvia. On 24 October 2017 the bonds issued by Altum were listed on a regulated market – Baltic Bond List of Nasdaq Riga.

         Laura Lapkovska
         AS Attīstības finanšu institūcija Altum Investors Relationships Division
         Tel.: +371 26165699
         E-mail: Laura.Lapkovska@altum.lv