Government approved priority large-scale EU funds projects
On Tuesday, May 26, the Ministry of Finance (MoF) informed the Cabinet of Ministers (CoM) about implementation of large-scale and financially capacious projects in the EU funds programming period 2007-2013.
In Latvia, in the programming period 2007-2013 within the EU funds operational programme “Infrastructure and Services” it is planned to implement 11 large-scale projects, including 7 projects in transport sector, 3 in environment sector and 1 in energy sector.
Total Cohesion Fund and European Regional Development Fund financing planned for the large-scale projects is 542 million lats or 17% of total EU funds allocation to Latvia in the programming period 2007–2013 in amount of 3.28 billion lats. Till March 31, 2009, Latvia has submitted to the European Commission (EC) large-scale project “Construction of second railroad in the rout Rīga-Krustpils” application, and currently is waiting for approval.
Taking into account financial effect and role of the EU funds projects in the economic revival measures and to monitor their timely implementation, the Government approved a plan for implementation of the EU funds large-scale projects (deadlines for selection of large-scale projects and their submission to the EC for approval).
The closest deadline has been set for the Ministry of Transport which shall, till June 25, submit to the MoF approved large-scale project “Construction of E22 in route Rīga (Tīnūži) – Koknese” and “Construction of E22 in the route Ludza – Terehova” applications for further approval in the EC.
Although the above mentioned road projects have not been approved yet, their implementation has been already started. Taking into account this fact and the fact that in current economic circumstances it is important to ensure quick inflow and circulation of the EU funds resources in Latvia’s economy, the Government approved redistribution of resources to the Ministry of Transport in amount of 1.8 million lats for carrying out initial works within these projects.
In 2009, Latvia should be able to prepare timely and in appropriate quality and submit to the EC for approval 8 large-scale project applications (in addition to 11 projects in the programming period 2007-2013) in amount of 450.4 million lats to ensure faster performance of measures aimed at real economy promotion and to gain income from the EU financial assistance to the Latvia’s state budget.
