To benefit from the support of the Recovery and Resilience Facility set up by the EU in the aftermath of the COVID-19-induced economic crisis, Member States submit their recovery and resilience plans to the European Commission. Each plan sets out the reforms and investments to be implemented by end-2026 and Member States can receive financing up to a previously agreed allocation. Each plan should effectively address challenges identified in the European Semester, particularly the country-specific recommendations of 2019 and 2020 adopted by the Council. It should also advance the green and digital transitions and make Member States’ economies and societies more resilient. The Commission validates the plan after which it effectively enters in force and EU subsidies can start flowing towards the member state. The Commission validates the plan after which it effectively enters in force and EU subsidies can start flowing towards the member state.
The European Commission has given a positive assessment to Latvia’s recovery and resilience plan, which will be financed by €1.8 billion in grants.
38% of the plan’s total allocation for reforms and investments supports climate objectives
The European Commission has given a positive assessment to Latvia’s recovery and resilience plan, which will be financed by €1.8 billion in grants.
38% of the plan’s total allocation for reforms and investments supports climate objectives
- Overhaul of the Riga Metropolitan area transport: creating a multimodal public transport network with a single and coherent timetable, a single price and ticket system and investing in clean transport infrastructure, including railways, trams, electric buses and cycle lanes. €295 million
- Energy efficiency in private and public buildings: financing a large-scale renovation initiative to increase the energy efficiency of residential buildings, public buildings and businesses. €248 million
- Modern and green electricity networks: investing in the green and digital transformation of electricity grids to provide adequate electricity supply infrastructure for the Latvian economy and the deployment of electric cars. €80 million
