EIB provides funds for electrification of the Latvian railway and Riga’s tram infrastructure

EIB-LatviaThe European Investment Bank (EIB) and the Latvian Ministry of Finance have agreed to establish a new EUR 200m loan facility for Latvia to support investments in energy, sustainable transport infrastructure and other fields, including for the first time also in rural development. The loan agreement, signed today by EIB Vice-President Pim van Ballekom and Latvia’s Minister of Finance Janis Reirs, will help Latvia to successfully absorb EU Structural Funds over the period 2014–2020.
The EUR 200m loan will be available as co-financing for selected projects under the Latvian operational programmes “Growth and Employment” and “Rural Development” for 2014–2020. Among other projects, EIB will promote the electrification of the Latvian railway network and the modernisation of Riga’s tram infrastructure.

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