Out of the almost EUR 5 billion allocated to Latvia in the EU economic recovery fund, half will be made available in grants, while the other half - in loans

  • 2020-07-22
  • LETA/TBT Staff

RIGA - Of the EUR 4.95 billion in funding allocated to Latvia as part of the EU's economic recovery fund, EUR 2.47 billion will be available in grants and EUR 2.48 billion in loans, according to information provided by the Ministry of Foreign Affairs.

According to information prepared by the Ministry of Foreign Affairs, out of EUR 2.47 billion of EU recovery funding for Latvia, EUR 121 million euros will be allocated to the Fair Restructuring Fund, EUR 1.99 billion euros to the Recovery and Sustainability Fund, EUR 272 million to the React EU program and EUR 86 million for rural development policy.

Meanwhile, EUR 7.97 billion  will be available in grants from the EU multi-annual budget to Latvia, of which EUR 4.63 billion will be allocated to cohesion policy, EUR 77 million to the Fair Restructuring Fund, from common agricultural policy EUR 2.41 billion will be received in direct payments and EUR 850 million for rural development.