The Ministry of Finance has submitted to the Cabinet of Ministers an informative monthly report on the progress of investments of Cohesion policy EU funds up to January 2020. Significant investment support entered the economy of Latvia last year.
Intensive implementation of the projects took place in many areas that are important for the development of the economy and the well-being of the population. From the beginning of the planning period until the end of 2019, 1,789 project applications were approved for a total amount of 5.31 billion EUR (including 3.89 billion EUR from EU funds), which is 88.1% of the total assistance available to Latvia during this planning period.
In 2019, the Central Finance and Contracting Agency made payments of 618.5 million EUR from EU funds to project promoters, which is almost a tenth more than the forecast. The good result can be explained both by the quality of forecasting and by the introduction of the financial discipline conditions. The largest investments were made in education (112.5 million EUR), environmentally friendly economy (82.1 million EUR) and research and development (71.5 million EUR).
By the end of last year, 380 projects had been completed, successfully benefiting from EU funding in the amount of 541.9 million EUR. It has enabled 186 711 inhabitants to take part in health promotion activities, 14 077 inhabitants to attend adult training, 2 171 apartment households to improve energy consumption, and to reconstruct and modernize 448 km of national and regional roads.
From the completed projects, as an example of good practice the project implemented by LTD "Salaspils Siltums” should be highlighted, within which the city of Salaspils established the solar district heating system that is the first in Latvia and the largest in Eastern Europe - 1720 solar collectors installed in six hectares with a total active area of 21 595 m2. This will benefit both the population and the environment by reducing CO2 emissions. Implementation of several projects for improvement of health infrastructure has been completed: modernization of 16 family doctor practice places, reconstruction of C block in Jelgava City Hospital and renovation of several rooms in the National Rehabilitation Centre “Vaivari”. A number of other significant results for the economy and population of Latvia have also been achieved in the areas supported by EU funds.
The implementation of the current EU fund planning period (2014-2020) is still in progress and will continue until 2023. Meanwhile, while preparing for the new planning period, the Ministry of
Finance continues to defend the interests of Latvia in EU Council working groups dealing with Cohesion policy regulation and related EU multi-annual budget issues.
The report on the progress of EU fund investments (in Latvian) is available on the EU funds website.
Information prepared by:
Madara Aldiņa
Senior Expert of the Communication Department
Phone: 67095656,
Email: madara.aldina@fm.gov.lv
