Almost EUR 58 million to be made available to businesses to promote transition toward climate-neutral economy

RIGA - To promote transition toward a climate-neutral economy, almost EUR 58 million will be made available to businesses, according to rules for the implementation of support for the development of public infrastructure necessary for entrepreneurship, promoting transition toward a climate-neutral economy, which the government supported today.

The total amount that will be made available for the program is EUR 57,976,211, of which EUR 49,279,779 will be allocated from the Just Transition Fund, while municipal and private funding will be at least EUR 8,696,432.

The Just Transition Fund is planning to provide EUR 10.3 million for projects in Kurzeme, EUR 10.6 million in Zemgale, EUR 11 million in Vidzeme, and EUR 14 million in Latgale.

The funds will support projects that contribute to the transition toward a climate-neutral economy, including projects to reduce greenhouse gas emissions or contribute to carbon sequestration, such as development of transport infrastructure, development of buildings and related infrastructure for business purposes, land improvement, rehabilitation of degraded ecosystems, and others.