Altum

ALTUM (Valsts attīstības finanšu institūcija ALTUM) is Latvia's state development finance institution. It operates as a state-owned, non-bank financial institution that channels public support into the Latvian economy through loans, credit guarantees, grants, subsidies and other financial instruments. Its mandate spans three broad client groups: households (iedzīvotāji), farmers and rural businesses (lauksaimnieki), and companies (bizness). For households, ALTUM offers housing guarantees for families with children and for young specialists, a subsidy programme called "Balsts" for large families and for families raising children with disabilities, housing guarantees for National Armed Forces soldiers, loans for the purchase of housing in the regions, loans for the renovation and energy efficiency of multi-apartment buildings, energy-efficiency grants for multi-apartment buildings, loans for buying land under apartment buildings, and student lending. For farmers and rural clients, ALTUM provides small loans in rural areas with a capital discount, a loan for refinancing farmers' credit obligations, a 0% loan for the border area, agricultural loans, and credit guarantees. For businesses, it offers loans for improving industrial capacity, a 0% loan for the border area, support for greening business with a capital discount, start-up loans, working capital and investment financing, financing for sustainable projects, large investment loans with a capital discount, credit guarantees, energy-efficiency loans with a capital discount, digitalisation loans with a capital discount, loans for building low-rent housing with a capital discount, export credit guarantees, and support for centralised heating. The institution reports a range of impact figures on its homepage: more than EUR 47 million allocated to small enterprises with reduced collateral; almost 40,000 hectares of land leased to farmers over ten years through the Latvian Land Fund; 40,000 families and young specialists who have obtained housing with an ALTUM housing guarantee; more than 27,000 people paying less for heating by living in energy-efficient homes; more than 200 social enterprises created in Latvia with ALTUM grant support; and more than 2,000 large families receiving the "Balsts" subsidy. ALTUM is wholly owned by the Latvian state and is a policy instrument for national and EU-funded support programmes. It is not a commercial bank; it complements private lenders by taking on risks and offering terms that the market does not provide on its own. Its brand is closely tied to public policy goals such as regional development, energy efficiency, housing affordability, rural entrepreneurship and social enterprise.

ALTUM is the Latvian state development finance institution. It was established as a single national development finance body consolidating earlier state support schemes, and it operates under Latvian state ownership. Its role is to implement state and EU support programmes that private financial institutions do not serve on commercial terms, particularly in housing, agriculture, regional development, energy efficiency and small and medium-sized enterprise finance. Over time ALTUM has built a broad portfolio of instruments. On the household side, it administers housing guarantees for families with children and for young specialists, the "Balsts" subsidy for large families and for families with children with disabilities, housing guarantees for National Armed Forces soldiers, loans for housing purchase in the regions, loans and grants for multi-apartment building renovation and energy efficiency, loans for buying land under apartment buildings, and student lending. On the agricultural side, it provides agricultural loans, credit guarantees, small rural loans with a capital discount, refinancing loans for farmers' credit obligations, and a 0% loan for the border area. On the business side, it offers start-up loans, working capital and investment financing, large investment loans with a capital discount, credit guarantees, energy-efficiency and digitalisation loans with a capital discount, loans for low-rent housing construction, export credit guarantees, and support for centralised heating. ALTUM also manages the Latvian Land Fund, which over ten years has leased almost 40,000 hectares of land to farmers. Its homepage highlights impact metrics: more than EUR 47 million allocated to small enterprises with reduced collateral, 40,000 families and young specialists who have obtained housing with an ALTUM housing guarantee, more than 27,000 people paying less for heating by living in energy-efficient homes, more than 200 social enterprises created with ALTUM grant support, and more than 2,000 large families receiving the "Balsts" subsidy. As a state-owned institution, ALTUM's history is intertwined with Latvia's use of EU structural funds and national budget resources to pursue policy goals. It does not take deposits and is not a commercial bank; instead it takes on risk and offers terms that complement private lenders. Its brand is therefore associated with public support, development finance and policy-driven lending in Latvia.

State-owned development finance institution channelling public and EU support to Latvian households, farmers and businesses; complements rather than competes with commercial banks.

• Housing guarantee for families with children

  Guarantee helping families with children obtain housing.

• Housing guarantee for young specialists

  Guarantee helping young specialists obtain housing.

• Balsts subsidy for large families

  Subsidy programme for large families.

• Balsts subsidy for families with children with disabilities

  Subsidy programme for families raising children with disabilities.

• Housing guarantee for National Armed Forces soldiers

  Housing guarantee for NBS soldiers.

• Loan for housing purchase in the regions

  Loan for buying a home in the regions.

• Multi-apartment building renovation loan

  Loan for renovation of multi-apartment buildings.

• Multi-apartment building energy efficiency grant

  Grant for energy efficiency in multi-apartment buildings.

• Student lending

  Study loans for students.

• Agricultural loan

  Loan for farmers.

• Credit guarantees

  Guarantees for agricultural and business loans.

• Small rural loans with capital discount

  Small loans in rural areas with a capital discount.

• 0% loan for the border area

  Zero-interest loan for the border area.

• Start-up loan

  Loan for start-ups.

• Working capital and investment financing

  Financing for working capital and investments.

• Large investment loan with capital discount

  Large investment loan with a capital discount.

• Energy efficiency loan with capital discount

  Energy efficiency loan with a capital discount.

• Digitalisation loan with capital discount

  Digitalisation loan with a capital discount.

• Loan for low-rent housing construction with capital discount

  Loan for building low-rent housing with a capital discount.

• Export credit guarantees

  Guarantees for export credit.

1. 1Sākuma lapa | Finanšu institūcija ALTUM | Valsts atbalstsaltum.lv
2. 2Altumwikidata.org