Latvia has fully utilized its EU funding of 4.6 billion euros for national development, executing approximately 2450 projects across various sectors during the last planning period.
During the last EU funding period, Latvia successfully invested 4.6 billion euros in the development of the country, completing around 2450 projects across diverse sectors. The Ministry of Finance explained that although the planning period officially concluded in 2023, project implementers could continue or finish their projects using their own funding or by dividing certain projects into phases to be completed with the next EU funding cycle. Payments to project implementers continued for expenditures and project checks during this transition period.
The 2014-2020 planning period was particularly challenging, as its conclusion coincided with global upheavals that impacted project costs and implementation timelines. This required proactive risk management and timely decisions to ensure that the allocated funding would be fully utilized before the deadlines. Comprehensive final documentation is to be submitted to the European Commission by mid-February 2026, and formal closure of the planning period will happen once approved by the Commission.
This extensive investment not only highlights Latvia's commitment to development but also the strategic challenges faced in project management during a tumultuous global landscape. The successful execution of these projects can have lasting benefits on Latvia's infrastructure and economic growth as it moves forward into the next EU funding cycle, with increased scrutiny on how funds are managed and utilized in the future.
