On 19 December, the government approved amendments to the regulatory framework of European Union (EU) funding for projects in the transport sector.
The amendments aim to facilitate the achievement of the objectives and indicators of projects financed by the EU Funds by ensuring the functionality of the projects. The beneficiaries will be able to continue the activities of certain projects at their own expense, while the projects implemented by "Latvijas dzelzceļš" will be phased over the two programming periods of the EU funds. The reallocation of funding will improve the use of Cohesion Fund (CF) funding and reduce the risks that Latvia would not receive its full allocation.
Taking into account that the project for the purchase of new electric trains will gradually be implemented in two planning periods of the EU funds 2014-2020 and 2021- 2027, and that the financing provided for for the implementation thereof in the planning period 2014-2020 of the EU funds will not be used in full, amendments to the regulatory framework provide for the transfer of the funding of the CF to the “Riga traffic” (RS) tram infrastructure development project for the implementation of additional activities, which provide for improvements of the tram track infrastructure, thus making the most of the available CF funding.
Amenments to the regulatory framework and project staging are also planned in order to successfully complete the unfrastructure modernisation projects implemented by the JSC "Latvijas dzelzceļš": “Modernisation of rail infrastructure for increasing train speed" and "Modernasitation of rail passenger infrastructure", as well as the project "Development of safe and environmentally friendly infrastructure at the international airport "Riga"” implemented by the JSC “International Airport Riga”, which has run into problems related to completion of construction work planned for the project until the end of this year.
