Disbursement of EU funding to projects in Freeport of Ventspils resumed in January

  • 2020-01-28
  • LETA/TBT Staff

RIGA - The disbursement of European Union (EU) funding to various projects that are being implemented in the Freeport of Ventspils resumed this month, LETA was told at the Finance Ministry. 

After the US Department of the Treasury's Office of Foreign Assets Control (OFAC) on December 9 announced sanctions against Ventspils mayor Aivars Lembergs and four Ventspils-based legal entities, including the Freeport of Ventspils Authority, the disbursement of EUR 5.6 million worth of EU allocations to various projects in the Freeport of Ventspils was suspended.

However, after OFAC removed the Freeport of Ventspils from the sanctions list, the Finance Ministry decided in January to resume the disbursement of EU funding to the Freeport of Ventspils Authority. 

The ministry's representatives added that the payments made by the Central Finance and Contracting Agency to the Freeport of Ventspils Authority are being declared to the European Commission. 

The Finance Ministry said earlier that the EU Cohesion Fund has been financing six projects in Freeport of Ventspils and that EUR 5.6 million worth of EU funding had yet to be disbursed to these projects. 

The largest amount, EUR 1.96 million, has not been released to an access road project aimed at providing a connection to the port's terminals and industrial zones.  EUR 1.34 million have yet to be provided for the reconstruction of the freeport's hydrotechnical structures. 

The remaining EU funding was meant for construction of industrial buildings and rehabilitation of a degraded territory in the Parventa Industrial Zone in Ventspils.