The Baltic Times

Latvia receives 1.2 billion euro loan

  • 2009-07-28
  • TBT Staff

This is the second part of the 2.2 billion euro loan from the EC

RIGA- The Finance Ministry of Latvia announcedthat the second installment of the European Commission loan has been receivedby Latvia.About 1.2 billion euros are in the treasury accounts now, and Finance MinisterEinars Repse hopes that the payment will help revive the economy.

"The goal of the international loan is the stabilization of the Latvianeconomy, and furthermore, it is serious support for the economy'srevitalization," Repse said.

Repse also said that themoney received is a "positive signal that the international partners haveacknowledged the national budget amendments." He added that it is just asimportant to now work purposefully on the 2010 budget.

 The first EC loan of 1 billion euro was received in late February 2009.

 

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