EUR 23.5 million paid out in support to energy-intensive manufacturing enterprises

RIGA - In December 2022 the State Construction Control Bureau adopted 134 decisions on granting state support worth EUR 23.547 million total to energy-intensive enterprises in the Latvian manufacturing industry. 

In accordance with Cabinet of Ministers regulations of October 11, 2022, the financial support has been granted to businesses affected by the consequences of Russia's invasion of Ukraine, which include the steeply growing energy costs. 

In order to receive support, companies had to apply to the State Construction Control Bureau from October 18 to November 17. The support program is meant to compensate the energy-intensive manufacturers for energy price increases from February 1, 2022 to December 31, 2022.

According to the Finance Ministry, the government's decision enables support for approximately 400 companies. The average support amount is EUR 125,000.