Luminor Bank has granted 7 million euro to Latvia’s largest defence systems integrator SIA Belss to support the development of its projects in the defence sector. The funding will be used as a credit facility, which will provide the company with financial flexibility to work on the development of unmanned platforms, defence infrastructure projects and implementation of other strategic projects related to national defence.

“This funding allows our customer to implement business activities that directly strengthen national defence and infrastructure, while creating new opportunities for development and innovation. We particularly appreciate that Latvian companies are able to prove themselves in a strategically important area, contributing to both security strengthening and economic development. We are pleased to support a company that strengthens security and the economy at the same time, creating long-term benefits for both the state and society,” states Ilze Zoltnere, Head of Luminor’s Corporate Department in Latvia.

SIA Belss has a long history in the defence sector and has been involved in a number of major projects of national and international importance. The company has successfully participated in several international and Drone Coalition procurements, demonstrating its ability to compete and deliver solutions at the highest level.

“Our strength is our ability to provide sophisticated, integrated solutions to the defence sector while maintaining high quality and reliability. The funding provided by Luminor gives us additional flexibility and security to implement important projects that strengthen the defence capabilities of Latvia and our allies,” says Kaspars Ziediņš, Member of the Board of SIA Belss.

About SIA Belss
SIA Belss is an engineering company specialised in the implementation of system integration projects of various complexity in the defence industry – radio communications, development of unmanned aerial platforms, mobile infrastructure, etc. Working in the military sector, SIA Belss has now grown to become the largest defence integrator in Latvia.

About Luminor
Luminor is the leading independent bank in the Baltic states and the third largest provider of financial services in the region. We provide financial services to individuals, families and enterprises. We are new, dynamic and forward-looking just like Estonian, Latvian and Lithuanian markets.