| Latvia receives first EUR 1 billion loan from European Commission |
|
| Thursday,February 26,2009 Posted: 15:51 BJT(0751 GMT) |
| From:LETA Article type:Original |
RIGA, Feb 25 (LETA) - Today, the European Commission transferred EUR 1 billion (LVL 700 million) to Latvia as the first part of its loan, LETA was informed by the European Commission's office in Latvia.
This is part of the EUR 3.1 billion loan that the European Commission has pledged to allocate Latvia in the next three years.
As reported, the total amount of financial aid to Latvia from international donors is EUR 7.5 billion (LVL 5.25 billion).
The European Commission will allot EUR 2.9 billion in 2009 (LVL 2.03 billion), EUR 100 million (LVL 70 million) in 2010 and another EUR 100 million in 2011.
The International Monetary Fund will give Latvia EUR 1.2 billion (LVL 0.84 billion) this year, EUR 400 million (LVL 280 million) in 2010 and EUR 100 million in 2011.
The Nordic countries - Denmark, Sweden, Finland and Norway will allot EUR 1.8 billion (LVL 1.26 billion) to Latvia in 2010.
The World Bank will allocate EUR 200 million (LVL 140 million) to Latvia in 2009, and EUR 200 million in 2011.
The European Bank for Reconstruction and Development, the Czech Republic, Poland and Estonia will allocate EUR 200 million to Latvia in 2009, and EUR 300 million (LVL 210 million) in 2010.
|
Bilateral Visits