RIGA, June 27 (LETA) - On Saturday, during an off-site meeting in Latgale, the government adopted amendments to the regulations on infrastructure for business support, allocating EUR 2,027,502 to promote economic development in Latgale.

The government explained that a third selection round was announced under these regulations for receiving funding from the European Regional Development Fund (ERDF). During this round, 39 project applications were submitted seeking ERDF funding totaling EUR 87.16 million, which exceeded the available funding by EUR 30.93 million.

Meanwhile, under the Development of Public Outdoor Spaces measure, there was a surplus of ERDF funding amounting to EUR 2,027,502 euros. It has been decided to redirect these funds toward infrastructure to support entrepreneurship.

With these amendments to the regulations, it will be possible to support a larger number of high-readiness projects submitted in the third selection round in Latgale.