RIGA (Pakistan Point News / Sputnik - 14th July, 2021) The European Union has approved a 1.82 billion euro ($2.1 billion) plan to support Latvia's economy hit by the coronavirus pandemic, the Latvian Finance Ministry said on Tuesday.
"The EU Economic and Financial Affairs Council adopted on Tuesday, July 13, the plan of the Latvian economy recovery fund worth 1.82 billion Euros," the statement said.
The sides will sign a relevant agreement in August. The plan seeks to resolve multiple economic and social issues in the Baltic country, with healthcare being the first in line to receive aid.
Earlier this day, the council of the EU adopted the first batch of national recovery plans funded by the EU Recovery and Resilience Facility (RRF). The decision is aimed at helping 12 EU countries, including Austria, Belgium, Denmark, France, Germany, Greece, Italy, Latvia, Luxembourg, Portugal, Slovakia and Spain, to help their economies rebound after the COVID-19 pandemic.
