Large Investment Loan with Capital Rebate

Large Investment Loan with Capital Rebate — Round 4

Funds strategic research and innovation investments in Latvia with long-horizon financing and rebate support.

⚠ This may reflect a past cycle — verify the current call on the funder's site.

Round 4 of the Large Investment Loan with Capital Rebate is a financing instrument co-administered by ALTUM and the Latvian Investment and Development Agency (LIAA), funded from public and national resources. The program targets large-scale investments of at least EUR 10 million in Latvia's RIS3 smart-specialization priority sectors, which include photonics, smart materials, engineering and technologies systems, smart energy and mobility, biomedical and medtech and pharma, knowledge-intensive bio-economies, ICT, tourism and creative industries, the military sector, and primary agricultural production. Only medium-sized and large enterprises are eligible; micro and small firms do not qualify.

The instrument structures financing as a loan covering up to 30% of eligible project costs at a maturity of up to 20 years, combined with a capital rebate of up to 100% of the loan principal. Because the capital rebate can fully cancel the outstanding loan on milestone completion, the instrument functions in practice as a milestone-based grant layered on top of the investment loan. This structure allows enterprises to execute major capital projects with an Altum loan while earning back the principal through verified project delivery.

Round 4 accepted applications from 20 November 2025 through 20 March 2026 at 23:59 Latvian local time, meaning this cycle is closed for new applicants. Applicants coordinated with both ALTUM and LIAA during the application process. Future rounds are expected given the program structure; enterprises in RIS3 sectors planning investments above the EUR 10 million threshold should monitor ALTUM's website for Round 5 announcements.