EIF and ALTUM expand financing partnership to deliver €66 million in accessible study loans for Latvian students

EIF and ALTUM expand financing partnership to deliver €66 million in accessible study loans for Latvian students

(IN BRIEF) The European Investment Fund and ALTUM have launched a new cooperation supported by the EU’s InvestEU programme to improve access to study loans for students in Latvia. The agreement will make up to €66 million available between 2026 and 2029, offering improved lending terms such as interest-free grace periods, and removing the need for collateral or parental guarantees. This new initiative builds on a previous partnership established in 2021, which already supported nearly 13,000 students with favourable funding for tuition and living expenses. ALTUM’s CEO Reinis Bērziņš highlighted that over €100 million in student and study loans have been delivered so far, while EIF Chief Executive Marjut Falkstedt underscored the role of accessible education in preparing young people for future employment. The programme forms part of InvestEU’s broader mission to support skills development, innovation, and sustainable growth across Europe.

(PRESS RELEASE) LUXEMBOURG, 20-Nov-2025 — /EuropaWire/ — The European Investment Fund (EIF) has entered into a new agreement with Latvia’s national promotional institution ALTUM to significantly expand access to study loans for Latvian students. Supported by the EU’s InvestEU programme, the initiative will unlock up to €66 million in financing between 2026 and 2029, enabling approximately 8,800 students to obtain loans on more favourable terms.

Through this arrangement, the EIF will provide a counter-guarantee to ALTUM, which will then extend guarantees to commercial banks issuing student loans. This setup reduces risk for lenders and allows them to offer improved loan conditions, including grace periods without interest, and the elimination of collateral requirements or parental guarantees. The mechanism ensures that students’ financial backgrounds do not restrict their ability to pursue higher education.

The new programme builds on the successful cooperation launched in 2021 under the Skills & Education Guarantee Pilot, part of the European Fund for Strategic Investments. That earlier initiative supported nearly 13,000 students and learners in Latvia by making it easier to access loans to cover both tuition fees and living expenses.

Reinis Bērziņš, CEO of ALTUM, highlighted the tangible results already achieved through the partnership, noting that EIF-backed support and national budget contributions have collectively facilitated more than €100 million in study and student loans across the country. He emphasised that the renewed counter-guarantee scheme will help maintain the availability of accessible financing for students in the coming years.

EIF Chief Executive Marjut Falkstedt reiterated the importance of education for Europe’s long-term prosperity, stressing that the agreement will help thousands of Latvian students study without financial obstacles and develop the skills required for future job markets. She affirmed that ALTUM’s strong track record demonstrates how collaborative models can make education more inclusive.

InvestEU, the EU’s flagship investment programme, continues to promote sustainable growth, innovation, and skills development across Member States through initiatives such as this new agreement.

Background

About the EIF

The European Investment Fund is part of the European Investment Bank Group. Its central mission is to support Europe’s small and medium-sized enterprises (SMEs) by helping them access finance. The EIF designs and develops venture and growth capital, guarantees and microfinance instruments that specifically target this market segment. In this role, the EIF furthers key EU policy objectives such as competitiveness and growth, innovation and digitalisation, social impact, skills and human capital, climate action and environmental sustainability, and more.

About InvestEU programme

The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps mobilise private investments for the European Union’s policy priorities, such as the European Green Deal and the digital transition. The InvestEU programme brings together under one roof the multitude of EU financial instruments currently available to support investment in the European Union, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is implemented through financial partners that will invest in projects using the EU budget guarantee of €26.2 billion. The entire budget guarantee will back the investment projects of the implementing partners, increase their risk-bearing capacity and thus mobilise at least €372 billion in additional investment.

Press contacts

EIB Group

Kristiina Randmaa

M. +352 4379 72894, e-mail:  k.randmaa@ext.eib.org
Website: www.eif.org — press@eib.org

ALTUM

Sandra Eglīte

M: +37126577810 | e-mail: sandra.eglite@altum.lv

www.altum.lv

SOURCE: European Investment Fund