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Mortgage and Land Bank of Latvia      Member  The Joint Stock Company “Mortgage and Land Bank of Latvia” (Mortgage Bank) is 100% owned by the Government of Latvia. The Mortgage Bank was established in 1993. The Bank’s mission as stated in its Statutes is – promoting the development of the national economy of Latvia through lending to small and medium size enterprises, mortgage lending and issuing of mortgage bonds. In 1999, the Cabinet of Ministers approved the Bank’s Development Strategy, stating that in 1999 2005, the major objective of the Bank would remain promotion of the Latvia’s economic development through providing financial mediation and related services. The new Statutes of the Bank approved by the Cabinet of Ministers in 2000, substantiate further development of the Bank as a promotional/development bank. Mortgage Bank has experienced a rapid growth throughout the recent years and has succeeded in all major fields of operation considerably increasing the Bank’s business volumes. Presently Mortgage bank provides development and commercial products on the market. The loans of development programmes form more than a half of total loan portfolio and its share increases constantly. Mortgage Bank services credit lines from international financial institutions and development banks (World Bank, KfW, Council of Europe Development Bank, Nordic Investment Bank, etc). To on-lend to the small and medium-sized enterprises Mortgage Bank borrowed a credit line from the European Investment Bank. At the present moment main development activities of the “Mortgage and Land Bank of Latvia” is targeting on SMEs, agriculture and housing. Bank envisages introducing new products, such as micro lending, social lending etc., in the near future. printversion