Wednesday, July 22 European commision (EC) has approved the proposals submitted by Latvia European Union (EU) Funds for the Growth and Jobs Operational Program to redeploy funding to mitigate the effects of the Covid-19 crisis in the areas of health, entrepreneurship and employment, informs Ministry of Finance.
Content will continue after the ad
Advertising
–
Only amendments were submitted for EC approval, which, in accordance with the decisions taken by the government, provided for support measures to mitigate the effects of Covid-19 in the amount of almost 500 million euros. The amendments approved by the EC envisage directing 386 million euros of EU funding to work on economic recovery measures – fast-track projects. Primary funds have been allocated to strengthen the capacity of the health system, ensuring urgent investments in strengthening the capacity of infectology and psychiatry. Also for providing support to companies – in the provision of working capital of export-capable and productive companies, modernization of production and heating of the economy. Investments are also directed at mitigating the socio-economic consequences – employment measures, as well as various infrastructure projects. The EC is still being consulted on the allocation of € 109 million for specific projects in the transport sector.
A total of € 386 million in EU funding has been reallocated to economic recovery measures. Ministry of Transport (MoU) € 100 million in discontinued railway projects will be used to strengthen health services (€ 30 million), loans and loan interest rate subsidies for investment projects by exporting companies (€ 35 million), support for employment measures (€ 20 million) and workforce skills and training. reorientation measures (EUR 15 million). In turn Ministry of Economy The 4.5 million euro financing of energy efficiency projects under the management will be directed to the projects of municipal energy efficiency measures to be implemented in 2020.
“The European Commission’s decision is a positive signal to immediately invest EU funds to mitigate the effects of the crisis, strengthening Latvia’s economy as effectively as possible in the post-crisis period. Almost 386 million euros of EU funds will be allocated to infrastructure development, health system support, business and employee support and retraining. “emphasizes the Minister of Finance Jānis Reirs.
The EC also supported proposals for reallocation of funding within line ministries. Additional funding of EUR 17.8 million is planned for economic recovery measures, EUR 42 million for active employment measures and provision of social services, retraining and qualification improvement of employees, general education infrastructure and development or adaptation of digital teaching and methodological tools, international cooperation in research and innovation. 10.7 million euros. It is planned to allocate 37 million euros for biodegradable waste measures, regional investments, as well as redistributions between information and communication technology projects. In turn, environmentally friendly public transport development projects and other MoU projects – 174 million euros.
The draft order “Amendments to the Operational Program” Growth and Employment “of the European Union Structural Funds and the Cohesion Fund for the 2014-2020 programming period was approved at the government meeting on 30 June 2020 and the amendments were submitted to the EC for approval. Proposals for amendments were developed by a working group led by the Minister of Finance Jānis Reirs to support entrepreneurship and employees in cooperation with line ministries, social and cooperation partners.
–
