Financial Services, Good for Business, Investments, Latvia, Legislation

The Environmental Protection and Regional Development Ministry's economic support plan, which the government approved today, stipulates support for municipal investment projects meant to mitigate consequences of the Covid-19 crisis in the regions.

In these times of uncertainty, jobs are of utmost importance, said Environmental Protection and Regional Development Minister Juris Puce. People need jobs, a stable income and a certain sense of security. The Environmental Protection and Regional Development Ministry's plan supports such municipal projects that guarantee job opportunities for residents and businesses already this year and will contribute to the national economy, said Puce.

The ministry received a total of 130 applications from 43 local governments by July 1. After the projects were evaluated, the ministry approved 88 projects worth EUR 37,998,419 in total, of which EUR 28,490,923 will be issued in state loans.

Transport Ministry's Parliamentary Secretary Janis Butans (New Conservative Party) told LETA that most local governments had decided to invest in the development of local transport infrastructure.

The Riga City Council submitted forty projects worth EUR 9,372,086. Many of these projects deal with buildings' energy efficiency improvements, as well as construction of new biking lanes.