High volume of deals

Project information

Index: 1335R4
Acronym:FIN-EN
Priority:1: Innovation and the knowledge economy
Sub Theme:Entrepreneurship and SMEs
Location LITHUANIA LIETUVA Lietuva Start/End date of the practice
Start: 2009
End: n.a.

Topic of the practice

Investment process

Good Practice Information

FI are selected by using the public procurement procedures. After the HF contract is signed and the HF Steering Committee is created, the tender documentation is drawn up, according to which FIs complying with the conditions of the requirements set in the tender documentation may apply for the implementation of FEI.The contracts are signed with each appropriate FI after the selection process.
The whole supervision process is described in the agreements with FIs.On the basis of these reports the on-spot-cheks are carried (at the level of FI and at the level of final recipient). Once the discrepancies with the legislation or with the data provided by FI are identified – the non-compliance or violation investigation are made by INVEGA.

Evidence of success

A key point to manage efficiently a FEI with high volume of deals is to delegate the invenstment and approval process as much as possible to the Financial Intermediary, while the HF focussing on control and monitoring function. Some figuers that give evidence of the success:
- 170 Financial intermediaries
- 4154 SME were supported (2013-09-30)
- 366M€ reached to SME

Contact details to obtain further information on the practice

Asta Gladkauskienė

INVEGA

asta.gladkauskiene@invega.lt

www.invega.lt

Annex completed on: 09-30-2014

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