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EU funds worth one billion euros were provided to Latvia last year

Photo: pixabay.com.
The total worth of contracts signed with European Union funds was more than EUR 1 billion last year. Thanks to financing provided by EU funds, Latvia was able to commence and realize 526 projects, allowing this money to stimulate the country’s economy, according to information from the Central Finance and Contracting Agency (CFCA).

CFCA director Anita Krūmiņa says that 2017 was an active year for the agency and recipients of EU funding.

«The agency is ready to provide support to ensure EU funding reaches its destination as quickly and efficiently as possible. Still, proper financial planning and risk assessment plays a major role for recipients of this funding. This year we intend to focus on these aspects more than ever. We have plans to organize special informative events for project organizers, considering that proper planning of schedules and organization of work is one of the biggest challenges one has to keep in mind when receiving EU funding,» says Krūmiņa.

Access to EU investments in 2017 was provided as part of 31 newly-announced project selection processes on top of already active or concluded selection processes. The funding volume that has yet to be allocated for any projects is around 12%.

The most expensive projects financed by EU in Latvia in 2017 include development of Riga’s tram infrastructure (EUR 65.7 million), creation of a sports and culture quarter in Grizinkalns (EUR 37.6 million), development of a depot for Latvijas dzelzceļš in Daugavpils and access roads (EUR 37 million), and a project organized by Education Quality State Service to help reduce the number of early education termination cases (EUR 31.3 million).

Supervising projects financed by EU funds, CFCA specialists have performed 546 inspections to ensure project realizers comply with specific rules and requirements for procurement procedures.

To ensure potential project organizers are provided with comprehensive and topical information regarding EU funding programmes and project realization matters, around 150 informative events were organized in 2017. Nearly 5,000 people attended seminars or viewed them live on the internet.

CFCA pays a lot of attention to customer service matters. One of the main aspects of this is convenient and quick communication, as well as project transparency.

In order to monitor customer service quality, CFCA performs customer surveys every year. More than 550 surveys show that 97% of respondents are satisfied with the quality of services provided by the agency. One-third of those people are new clients that established cooperation with CFCA in 2017.


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