Implementation of Recovery and Resilience Facility in Latvia will require additional state funding of EUR 608.2 million

• Published date: 27 May 2022
• Publication title: LETA

RIGA, May 27 (LETA) - Implementation of the European Union's Recovery and Resilience Facility in Latvia will require additional state funding in the amount of EUR 608.2 million, the Finance Ministry's representatives said at a meeting of Saeima European Affairs Committee on Friday.

The ministry's estimates suggest that implementation of projects that deal with climate change, digital transformation, inequality reduction, health, productivity, and the rule of law may require EUR 225 million from the state budget, another EUR 383.2 million will be needed to cover the cost of value added tax. In addition, up to EUR 1.863 million may be needed from other EU funding programs.

t the same time, the Finance Ministry's representatives told the committee that, in order to apply for funds from the Recovery Facility next year, state institutions need to meet an additional 49 indicators.

Latvia is planning to submit the first official request for resources of the Recovery Facility next week, the Finance Ministry's representatives told the committee. EUR 237 million provided to Latvia last September was an advance payment.

By 2026, state institutions will need to...