RIGA - The local authority of Riga city will borrow EUR 23 million from the Treasury in order to complete the construction of the Mezaparks Open-air Stage, the city's interim administration decided today.
It has been decided to continue work on the open-air stage's reconstruction project, implementing the second phase of part B of the project. The costs of this phase, which includes construction and supervision - are planned at EUR 23 million.
To implement the plan, the local authority will take a 20-year Treasury loan.
Earlier, Culture Ministry spokeswoman Lita Kokale told LETA that in order to ensure the completion of this investment project of national importance, the government has given the city council permission to take a EUR 23 million Treasury loan, repayable by 2022.
The XII Latvian Youth Song and Dance Festival, which was supposed to take place at the Mezaparks Open-air Stage this summer, has been rescheduled for July 5-11, 2021 due to the Covid-19 pandemic.