The 2014-2020 planning period for European Union (EU) funds has concluded, with final reports submitted this month. During this period, 4.6 billion euros in funding flowed into Latvia’s economy, supporting approximately 2,450 projects across various sectors.
Impact of EU Funding
The influx of EU funds has demonstrably impacted several areas of the Latvian economy and society. Data indicates that the competitiveness and productivity of 6,900 companies were strengthened. Energy efficiency improvements were made in 23,000 households.
The EU funding also provided support to vulnerable populations, with around 100,000 people at social risk receiving assistance in finding and maintaining employment. LSM’s Latvian language service visualized this data with a cartoon depicting a water wheel and pipes.
Future Funding
As the 2014-2020 period closes, a subsequent support period, which provided Latvia with 1.97 billion euros in funding, is also coming to an end. Latvia will seek to continue receiving EU funding in future planning periods. The availability and amount of future funding could depend on a variety of factors, including Latvia’s economic performance and EU budgetary priorities.
Frequently Asked Questions
What was the total amount of EU funding received by Latvia during the 2014-2020 period?
Latvia received a total of 4.6 billion euros in EU funding during the 2014-2020 period.
How many projects were supported by EU funds?
Approximately 2,450 projects in various fields were supported by EU funds during the 2014-2020 period.
What happened with the subsequent support period?
The subsequent support period, in which Latvia was provided with 1.97 billion euros in funding, is now coming to an end.
How might Latvia adapt its economic strategies as EU funding cycles evolve?
