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"Citadele Bank" has issued a 1 million euro loan to RIGVIR manufacturer
15.12.2017

RIGVIR Holding’s company "Latima, Ltd." has received a €994,000 loan from EBRD and US private capital owned bank "Citadele” (Latvia’s fifth largest bank by assets) to complete the RIGVIR Scientific Centre.

RIGVIR Holding’s business development manager Kārlis Urbāns has emphasised: "The funding was released after in-depth financial, business and risk analyses were carried out for the project. The allocation of funds confirms the long-term viability of the business and allows us as a manufacturer to concentrate the available resources in other important long-term investments including conducting research."

€1.3 million has already been invested in this project, but the total cost will reach €2.6 million. The loan was acquired with the support of the Latvia state-owned ALTUM financial development institution, which offered a credit guarantee that is yet more proof of the state’s confidence in RIGVIR.

Latima is the producer of Rigvir anti-cancer medicine and belongs to Rigvir Holding.