Cabinet of Ministers Regulations No. 24 validating the Rules on productivity loans for business innovation.

This Regulation outlines the framework for the implementation of the European Union's cohesion policy programs for the period 2021–2027, specifically focusing on research and innovation strategies aimed at transforming the economy. It emphasizes the importance of fostering higher value added services and products, enhancing productivity, knowledge transfer, and efficient resource utilization across all business cycles. The document specifies various measures and action plans, including the provision of financial support through the development finance institution Altum. It outlines the criteria for eligibility, including the requirement for applicants to demonstrate no significant tax arrears. The document also details the types of innovative products eligible for support, emphasizing the need for assessments from relevant authorities, such as the Latvian Science Council for innovative products and the Ministry of Defense for dual-use products. Compliance with the de minimis aid limits, which cap support at €300,000 over a three-year period, is also highlighted. The implementation plan involves submitting project applications to Altum before project commencement, with decisions on funding contingent upon the approval of applications by relevant institutions. The document stresses the importance of stakeholder involvement in the application process and outlines procedural requirements for reporting and accountability. Additionally, it mentions the potential for the withdrawal of funding if the applicant fails to meet the stipulated conditions, thereby ensuring adherence to the established regulatory framework.