European Commission approves Latvia's plan to compensate 80% of ticket money event organizers have had to repay during crisis

RIGA - The European Commission has approved Latvia's plan to support crisis-stricken event organizers by compensating 80 percent of their losses sustained due to the cancellation of events during the Covid-19 emergency, LETA was told at the European Commission's Representation in Latvia. 

The EU Commission has approved Latvia's EUR 5 million program that will support event organizers who have been forced to cancel publicly announced events due to the coronavirus restrictions imposed by the government. 

Potential recipients of the support have been advised to following information provided by the Culture Ministry and the State Culture Capital Foundation, which will be managing the support instrument.

The support will be provided as grants, covering up to 80 percent of the ticket money reimbursed to spectators and of reimbursement costs. The program is intended to offset the impact from the sudden loss of working capital event organizers are feeling during the pandemic.