Budget, EU Regional Policy, EU – Baltic States, Funds, Latvia

International Internet Magazine. Baltic States news & analytics Saturday, 20.07.2019, 04:52

Latvia absorbs 66% of EU funding available in current programming period

BC, Riga, 11.09.2018.Print version
In Latvia work is under way on EU-funded projects worth 2.9 bln euros in total, which 66% of the 4.4 bln euros made available to Latvia in the current programming period 2014-2020, the Finance Ministry said in a report on the absorption of EU structural funds and the Cohesion Fund’s investments, cities LETA.

The ministry’s representatives informed that 74 projects, which received 215 mln euros in EU co-funding, have been completed already. These projects in have been implemented in areas like increasing the energy efficiency of buildings, road construction, development of business infrastructure and revitalization of undeveloped territories.

The Finance Ministry also informed that this year special attention would be paid to supporting the entities implementing the EU-funded projects of the 2014-2020 programming period and improving the projects’ quality, as well as strengthening financial discipline in order to reduce risks and make sure that the investments are used in accordance with Latvia’s interests.

In July and August this year, Latvia received 162.6 mln euros in final payments from the European Regional Development Fund (ERDF) and the Cohesion Fund for the projects implemented in the previous programming period 2007-2013.


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