EU – Baltic States, Financial Services, Latvia, Loan

The World Bank mission is visiting Latvia until July 3 to discuss with the Latvian authorities reforms in healthcare, education and welfare, as well as the planned structural reforms in public administration.

Work on the loan agreement has also begun with the arrival of the World Bank mission.

The World Bank board could consider allotting the loan to Latvia in the fall, by which time the loan agreement must be drawn up.

As reported, the European Commission's Economic and Financial Affairs Committee has approved allotting a second installment of the international loan for Latvia; the Commission will make the final decision based on the committee's conclusions.

Therefore, Latvia will receive EUR 1.2 billion from the European Commission in the near future.