Latvian development bank for SMEs gets green light

On 9 June, the European Commission concluded that Latvia's project to establish a financial institution (the Latvian Single Development Institution, SDI) is compatible with EU state aid rules. The SDI will facilitate access to finance for small and medium-sized enterprises (SMEs) and other players that face obstacles to raise financing in the market. Latvia plans to inject more than €512 million of capital from state resources into the SDI for the period 2015-2022. The SDI will use this budget to…