Cohesion Policy Funds

Logo: EU funds logo pair for 2021-2027 programming period

The new cohesion policy

10.5 billion euros will be available for the development of Latvia's economy over the next seven years. 4.24 billion euros of these funds have been allocated to cohesion policy programmes (European Social Fund + (ESF+), Cohesion Fund (CF), European Regional Development Fund (ERDF)).

Between 2021 and 2027, European Union (EU) investment in Latvia will be directed towards six key objectives set at EU level:

  1. A smarter Europe - innovation and smart economic change, developing research and skills, supporting entrepreneurship, digitisation and digital connectivity;

  2. A greener Europe - climate neutrality, climate change adaptation and environmental protection;

  3. A more connected Europe - developing safe, sustainable and accessible transport;

  4. A social and inclusive Europe - equal opportunities and access to education, healthcare and the labour market, fair working conditions, social protection and inclusion;

  5. A Europe closer to citizens - sustainable and balanced regional development;

  6. Transition to climate neutrality - investing in social and environmental mitigation in the most affected regions.

Investments will focus on the first and second objectives. 65-85% of ERDF and CF resources will be allocated to these priorities, depending on the relative prosperity of Member States.

The main objective of the EU Funds is to improve the competitiveness of Europe's regions and cities by boosting growth and creating jobs.

The agreement reached at the EU leaders' meeting in July 2020 will make a total of around €10.5 billion available for Latvia's economic development over the next seven years.