Latvia needs investments in transport and energy infrastructure that will increase the country’s competitiveness, according Latvia released along with the European Commission’s investment plan.
In the transport sector, investments are needed for better cross-border connectivity, including implementing the Rail Baltica project, and ensuring high quality and safe infrastructure.
The Commission unveiled a much-touted plan today to inject EUR 315 billion into the EU’s ailing economy, the DPA news agency reports. The Commission proposed to set up a new fund, managed by the European Investment Bank, to finance infrastructure projects in areas such as broadband data connections, energy and transport, education, research and innovation.
Under the proposal, the existing EU budget will be used to finance a EUR 16 billion guarantee, while the EIB will commit EUR 5 billion. This in turn should attract a 15-fold volume in private investments, totaling EUR 315 billion, according to Commission estimates.
Source: baltic-course.com
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