Latvia launches talks with European Commission about Recovery and Resilience Facility plan for Latvia

  • 2021-02-24
  • LETA/TBT Staff

RIGA - This week, Latvia became the first Baltic country to commence negotiations with the European Commission about Latvia's plan under the European Union's Recovery and Resilience Facility (RRF), as the Finance Ministry informed LETA.

Altogether, six discussions with the Commission will take place regarding each pillar of the RRF.

According to the Finance Ministry, the Commission has several times emphasized that adhering to the Council of Ministers' recommendations is the main precondition for the approval of the member countries' recovery plans and allocation of financing.

"Latvia's plan covers such recommendations as allotting investments for green transformation and digital transition, innovations, sustainable transport and digital infrastructure," the ministry added.

The second key condition is that the planned investments must be linked to reforms. The plan must, first of all, include the objectives and the necessary reforms for achieving the objectives, investments for the implementation thereof, said the Finance Ministry.

"Being guided by these principles and the EU recommendations, it is planned to allocate the RRF investments for the implementation of the following structural reforms: transition to sustainable transport, energy efficiency in all sectors (in the field of climate), enhancing the solutions of information and communication technologies in public sector for improvement of entrepreneurial environment (in the field of digital transformation), effectiveness of the network of health services (in the field of health), administrative territorial reform (in the field of reducing inequality), raising productivity, consolidation of higher education institutions (in the field of economic transformation), strengthening the combating of shadow economy and economic crime (in the field of rule of law)," said the Finance Ministry.

As reported, the guaranteed available funding for Latvia comprises EUR 1.65 billion.