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Saturday, 27.04.2024, 01:28
FinMin: there is practically no risk that Krievu Island project may fail to receive EU funding
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The Finance Ministry and Transport Ministry have done very much to minimize risks associated with the project of the Riga Freeport, Reizniece-Ozola explained.
Therefore now there is no risk at all that the project may fail to receive EU funding.
As reported, the Audit Office said on Monday that the Freeport of Riga project would not achieve its original goal defined in the funding application to the EU – to move all port operations away from the city center. As a result, all of EUR 77.2 million allocated to the project by the EU may be lost.
The Freeport of Riga Authority believes that the Audit Office's conclusions are based on assumptions and information that was taken out of context.
On the other hand, the Transport Ministry has said that the Freeport of Riga Authority's plan for implementation of the Krievu Island project until 2018 is being supervised by the ministry and, if the port sticks to plan, the project's goals will be attained on schedule.
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