The Minister for Finance discusses the role of EU funds in stimulating the Latvian economy with the EU Commissioner for Cohesion and Reforms

  • 2023-02-02
  • Ministry of Finance of the Republic of Latvia

RIGA - On Thursday, 2 February, Minister for Finance Arvils Ašeradens met with the European Commissioner for Cohesion and Reforms, Elisa Ferreira. The Commissioner was on her first visit to Latvia to celebrate the approval of the Partnership Agreement and the EU Funds Programme for the period 2021-2027. The meeting discussed the role of EU funds in stimulating the economy in the face of inflation and economic slowdown. 

Elisa Ferreira, European Commissioner for Cohesion and Reforms, said: “I am pleased that Latvia is continuing to implement the Cohesion Policy programme for 2021-2027. The European Union will provide EUR 4.4 billion of funding for Latvia's investments in renewable energy, research and innovation, competitiveness, sustainable transport, skills, education and social inclusion. Over the last twenty years, Latvia has significantly increased its prosperity and improved its quality of life, thanks also partly to the Cohesion Policy. We continue to work in this direction, advocating balanced territorial development in all regions of Latvia, so as to bring real benefits to every citizen.”

The next round of EU funding of more than EUR 5.4 billion* is available for Latvia's economic development over the next seven years. This is the most significant investment in Latvia, accounting for the largest share, around 50%, of total public funding. One of the priorities for this year is accelerating the flow of this investment into the Latvian economy.

Full information is provided on the website of the Ministry of Finance: