Today, on 11^th September, the Chairman of the Board of Mortgage bank Rolands Paņko and the Head of the European Investment Fund (EIF) Richard Pelly signed a cooperation agreement on provision of guarantees to business loans under the European Union’s Competitiveness and Innovation Framework Programme. The goal of the Programme is to promote the competitiveness of European enterprises and facilitate their access to financing.

The purpose of guarantees is to aid small and medium enterprises in acquisition of loans, operating in knowledge-based areas, for instance, development of technologies, innovations and technology adoption.