National Promotional Institution
Public Investment Development Agency (VIPA) is a state-owned National Promotional Institution (NPI) which provide loans, guarantees for repayable investments, implementation of similar measures for urban development, optimisation of public infrastructure, and energy efficiency improvements. Our activities are financed by the European Union, national, and other financial assistance programs and financing sources.
Through crowd funding investment platforms, NPI will enable economic entities of the country to avail of the funding from the European Fund for Strategic Investments (EFSI) or the so-called Junker plan, as well as to attract the funds from international financial institutions and private investors easier.
NPI will operate in those areas and sectors which demonstrate market deficiency, i.e. there is a lack of private investors and / or it is seen that the supply of funding is insufficient or the terms and conditions of commercial finding are unacceptable. The funded projects will have to contribute to the implementation of strategic goals specified in the state’s strategic documents. NPI is already operating in a number of EU countries, the biggest of which are as follows: the German KfW (Kreditanstalt fur Wiederaufbau), the French CDC (Caisse des Depots et Consignations), the Italian CDP (Casa Depositi e Prestiti), the Polish BGK (Bank Gospodarstva Krajowego). The neighbouring country Latvia has ALTUM.
VIPA performs the functions of NPI in the areas of energy consumption efficiency, development of already urbanised or currently urbanising territories, renovation and expansion of housing and public infrastructure or objects of infrastructure intended to meet the public interest.