Minister of Finance Jānis Reirs: Green light given to the implementation of a number of EU funds investments in Latvia
On April 30, in Riga, a meeting of the Monitoring Committee of the Cohesion Policy European Union (EU) Structural Funds and Cohesion Fund 2014–2020 programming period was held. At the meeting, the most urgent issues were discussed and significant decisions were made associated with the implementation of the new EU funds programming period.
“EU funds investments are an important tool to promote development of the Latvian economy and – most importantly – to raise the level of welfare of Latvian citizens. Today we can see that the work done by EU funds responsible ministries to develop criteria and rules for the implementation of specific support goals has been successful and the Monitoring Committee approved them. Green light is given to begin already in 2015 selection of a number of EU funds project tenders and implementation of investments according to the goals set in the Operational Programme “Growth and Employment,” notes Minister of Finance Jānis Reirs.
At the meeting of the Monitoring Committee, a number of project application evaluation criteria for the specific support goals and programmes of the new EU funds programming period developed by the EU funds responsible institutions, including the Ministry of Education and Science, Ministry of Welfare, and Ministry of Environmental Protection and Regional Development, have been considered and approved.
An opportunity has been provided to begin already in 2015 real project selection tenders and investments according to the strategic goal in order to support post-doctoral research, to ensure compliance with the requirements set for the EQAR agency, to increase the level of employment and education of youth outside employment, education or training within the framework of the Youth Guarantee, to perform research and monitoring of the inclusive labour market and poverty risks, to increase the amount of private investments in national and regional centres, as well as to support territorial revitalization through regeneration of degraded territories according to integrated development programmes of local governments.
A representative of the Ministry of Economics introduced members of the Monitoring Committee with the market failure evaluation in the field of financial instruments, while a representative of the Ministry of Finance (MoF) informed about the establishment of the single development financial institution Altum (DFI Altum). FDI Altum was established on April 15, 2015 by merging state JSC “Latvian Development Financial Institution Altum”, LLC “Latvian Guarantee Agency” and state JSC “Rural Development Fund”.
The Monitoring Committee approved the financial instruments market failure evaluation, which means conceptually very important EU funds support – 126 million euro – to the economy, in particular availability of financing and promotion of competitiveness of start-ups, micro, innovative and fast-growing companies. Based on the performed market failure evaluations about the availability of financial instruments, in the new EU funds programming period DFI Altum will implement all financial instrument state aid and development programmes.
The MoF as the EU funds Managing Authority informed the Monitoring Committee about the progress achieved in the implementation of the new programming period, including compliance with ex-ante conditionalities set by the European Commission, implemented simplification measures and measures to reduce administrative burden, as well as the Complement developed to the Operational Programme “Growth and Employment”.
In the Operational Programme Complement particular measures have been defined to achieve the goals set for the programming period and the time schedule for the implementation of investments. Thus, not only effective control over the execution of the planned is ensured, but also the society and potential beneficiaries are kept informed about the possibilities to apply and implement projects within the programmes of specific support goals. Already now, potential beneficiaries are invited to consult the only Cooperation Institution in the new period – the Central Finance and Contracting Agency – about the EU funds investments available for the implementation of projects in the EU funds 2014-2020 programming period.
At the meeting of the Monitoring Committee the EU funds Evaluation Plan 2014–2020 and the Communication Strategy 2015–2013 were approved. There were also a number of other informative issues on the agenda, which are important for rising awareness and exchange of views about the topical issues, thus ensuring also compliance with the partnership principle within the framework of the Monitoring Committee.
The EU funds Monitoring Committee has been established to ensure effective monitoring of EU funds implementation in compliance with the priorities and goals set in the operational programme. Meetings of the Monitoring Committee are attended by EU representatives, as well as representatives of public administration institutions, municipalities, planning regions, social partners and NGOs.
Information prepared by:
Zaiga Puškina
Senior Expert of the Communication Department
Phone: 67095656, zaiga.puskina@fm.gov.lv
