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Monday 26.09.2016 | Name days: Kurts, Knuts, Gundars
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FM: Latvia is a leader in realization of EU funds

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUAccording to the latest data for the European Commission’s 2014-2020 planning period, Latvia is on the 6th place among 28 member states based on the country’s performed payments. In regards to the volume of requested payments, Latvia is 4th among EU member states.

«Intensive work performed by ministries and social partners aimed at speeding up the introduction of EU funds as well as retaining quality investments has helped secure a positive result. We have noticed a rapid increase in the number of selected projects, which has secured progress in the introduction of EU funds, allowing Latvia to become a leader among EU member states and providing major contribution to the country’s national economy,» – says Finance Ministry’s deputy state secretary for matters of EU funds Armands Eberhards.

By 5 August, Latvia received 6.5% from the financing amount available in EU’s structure and Cohesion Fund’s funding for the 2014-2020 planning period. This made Latvia one of the most successful EU member state in terms of use of EU funds. In addition, Latvia is one of the first countries that has received not only the advance payments but also interim payments that are requested after completion of part of the planned work. By 1 September, Latvia signed contracts with funding recipients for funding worth more than EUR 902 million. In total, Latvia has approved investment projects with EU co-financing of EUR 905 million for this planning period, as reported by Finance Ministry.

The government’s timely-made decisions to launch the realization of priority projects have helped invest EUR 13.5 million into the state budget. EUR 8.5 million of that amount was invested for the maintenance of road infrastructure. In 2014, EUR 4.7 million was invested to help with youth employment. EUR 200,000 was invested into the development of healthcare networks. EUR 127 million was invested into different projects from the state budget in 2015. An increase of investments is currently noticed in 2016. It is expected that indexes for the next planning period will grow in 2017 and 2018.

In 2014, Latvia was among the first member states that had successfully concluded talks about the attraction of EUR 4.4 billion from EU structural funds and Cohesion Fund for the 2014-2020 planning period.

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