Growing sustainable business

Established at the initiative of the Bank of Lithuania, the State Investment Management Agency (VIVA) is responsible for managing the State Aid Fund for Business (the Fund), evaluating, selecting and supervising investments, managing risk, and ensuring the Fund earns a suitable return.

The Lithuanian state, represented by the Ministry of Finance, is the company’s sole shareholder.

VIVA’s main objective is to provide aid to large and medium-sized enterprises that face financial difficulties and to help ensure the sustainable performance of large and medium-sized companies and the vitality of the capital market.

The State Aid Fund for Business provides financial assistance to businesses via debt and investment instruments. Large and medium-sized enterprises may apply for loans or to obtain investments by issuing ordinary bonds. For systemic companies, the Fund may also invest by purchasing their shares or via other hybrid financial instruments.


Investor Relations

The State Investment Management Agency manages the State Aid Fund for Business (the Fund). The state invests in the Fund through UAB Valstybės Investicinis Kapitalas.

Currently, the state has invested €100 million in the Fund, with plans to additionally provide a state guarantee for up to €400 million of non-equity securities.

If needed, the Fund will also seek to attract institutional investors for investments of up to €500 million.

It will be possible to invest not only in the Fund but also in bonds with a state guarantee. When initially offered, the bonds will be distributed to professional investors. Later they will be listed on the NASDAQ Vilnius stock exchange and available to all. After listing, the redemption of the bonds under an ECB programme is planned.


For business

We provide aid to businesses affected by the COVID-19 pandemic through loans for working capital and investments, and we also invest in companies’ debt securities, shares, or hybrid financial instruments. Financial aid is provided to companies that are unable to get the funding they need in the financial markets and thus face liquidity challenges.


We work together with business to strengthen long-term value creation in the economy.


We aim to be a leader in pooling public and private investment to promote financial market maturity.


In pursuing our vision and mission every day, we abide by these values which unite and inspire us.

Business language and institutional approach

We listen to, understand and speak the language of business, with a sense of responsibility as an institution for the resources entrusted to our care.


In our work we abide by the highest standards of professionalism, transparency and impartiality. In all we do, we strive to create comprehensive and real value for society and our partners.


We work together with other financial market participants to promote the vitality and maturity of the financial and capital markets.


By pooling public and private investment, we strive to ensure a good return for investors.


In taking decisions, we look at not just the short-term benefits for business but also the long-term impact on economic cohesion and sustainability. We anticipate and address potential challenges.


The team of management bodies and impartial and professional governance framework are designed to ensure transparent, responsible and efficient management of the company.