Brussels, 15/12/2009 (Agence Europe) - On Tuesday 15 December, the European Commission authorised a €89 million state guarantee that Latvia intends to provide to the steel manufacturer JSC Liepâs Metalurgs (LM) for financing its modernisation. LM is an economically sound company of strategic importance for the Latvian economy. Due to the financial crisis, LM could not raise money necessary for its modernisation without a state guarantee.
LM is planning to use a commercial loan of €89...