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Monday 16.07.2018 | Name days: Hermīne, Estere
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EUR 74.11 million to become available for port infrastructure development in Latvia

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUIn order to further develop the mobility of the European transport network and shipping safety at Latvia’s largest ports, the 2014-2020 planning period provides for the allocation of EUR 74.11 million from the European Cohesion Fund for the development of port infrastructure.

This is provided by Latvia Transport Ministry’s set of requirements for the development of port safety and improvement of transport network mobility announced at the meeting of State Secretaries on Thursday, 18 February. The government will soon discuss these requirements, as reported by the ministry.

The total funding planned for the specific support goal is at EUR 87.19 million. Of this amount, EUR 74.11 million would come from the Cohesion Fund and EUR 13.08 million would be national funding provided by executors of the project. The maximum funding to be provided by CF to a single project applicant is EUR 24.7 million.

Specific support goal projects will be selected from those submitted by management boards of Latvia’s largest ports (Riga Freeport, Ventspils Freeport and Liepaja Special Economic Area). Activities supported by the special support goal initiative include reconstruction and restoration of docks not planned to be used for commercial activities to ensure shipping safety, as well as construction of engineering networks, access to roads and railways and related infrastructure. All projects will be selected by the Central Finance and Contracting Agency.

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