An equity commitment of up to EUR 24 million in favour of Livonia Partners Fund II (the "Fund").
The Fund seeks to make equity and quasi-equity investments in small and medium-sized enterprises ("SMEs") and mid-cap companies predominantly in Estonia, Latvia and Lithuania.
ETI score: 63
The project is expected to contribute to the resilient transition quality by increasing the availability of private equity capital which will strengthen the resilience of the financial system as well as the corporate sector.
The project will also support the competitive transition quality and help promote private and entrepreneurial initiatives by providing long-term financing to SMEs and mid-cap companies in the region.
LIVONIA PARTNERS FUND II
The Fund will be managed by SIA Livonia Partners GP AIFP and advised by SIA Livonia Partners.
EBRD Finance Summary
An equity commitment of up to EUR 24 million.
Total Project Cost
Target fund size EUR 150 million.
Environmental and Social Summary
Categorised FI (ESP 2019). The Fund is familiar with EBRD's Performance Requirements from its predecessor fund, Livonia Partners Fund I, and will continue to comply with EBRD's Performance Requirements 2, 4 and 9, adopt and implement the EBRD's Environmental and Social Risk Management Procedures for Active Equity Funds and continue to submit Annual Environmental and Social Reports to the Bank. The Fund will mainly invest in SMEs and mid-cap companies which are considered to be low to medium from an E&S risk standpoint, and Livonia has an Environmental and Social Management System in place which is adequate for such type of investments.
Technical Cooperation and Grant Financing
Company Contact Information
Livonia Partners Brīvības iela 46-26, Riga, Latvia-1011
PSD last updated
18 May 2021
Further information regarding the EBRD’s approach to measuring transition impact is available here.
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Environmental and Social Policy (ESP)
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More information on the EBRD’s practices in this regard is set out in the ESP.
Integrity and Compliance
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Access to Information Policy (AIP)
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Independent Project Accountability Mechanism (IPAM)
If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).
IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.
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