70% of EU funds available to Latvia invested in different projects across the country

RIGA - 70 percent of European Union funds available to Latvia during the current planning period has been invested in different projects across the country, the Finance Ministry informed the government on Tuesday.

As of January 1 this year, EUR 3.2 billion worth of agreements on investment of EU funds were signed in Latvia, which is 70 percent of the total amount of EU funds available to Latvia - EUR 4.4 billion.

According to the Finance Ministry, the amount of agreements increased significantly at the end of 2018 - EUR 44 worth of agreements were signed in November and EUR 98 million in December. Most agreements dealt with environmental and territorial development projects, as well as support for long-time unemployed.

The Finance Ministry also reports that, compared to the past several years, the pace of investments and attaining the goals of investment projects have both improved.