Lithuanian bank PayRay Bank signs guarantee agreements with European Investment Fund under the “European Guarantee Fund” (EGF), to channel financing to hard-pressed SMEs.
The guarantees are set to support a portfolio for a combined value of up to €50 million in new financing to small and medium-sized Lithuanian businesses.
The EGF is part of the €540 billion EU rescue package in the wake of the COVID-pandemic.
In order to support small and medium sized businesses in Lithuania, who are u...