The Recovery and Resilience Facility (RRF) is a temporary instrument that is the centrepiece of NextGenerationEU -the EU’s plan to emerge stronger and more resilient from the current crisis.
Through the Facility, the Commission raises funds by borrowing on the capital markets (issuing bonds on behalf of the EU). These are then available to its Member States, to implement ambitious reforms and investments that:
- make their economies and societies more sustainable, resilient and prepared for the green and digital transitions, in line with the EU’s priorities;
- address the challenges identified in country-specific recommendations under the European Semester framework of economic and social policy coordination.
The RRF is also crucial for implementing the REPowerEU plan – the Commission’s response to the socio-economic hardships and global energy market disruption caused by Russia's invasion of Ukraine.
Following an unprecedented crisis due to the pandemic, Latvia’s recovery and resilience plan responds to the urgent need of fostering a strong recovery and making Latvia ready for the future. The reforms and investments in the plan will help Latvia become more sustainable, resilient and better prepared for the challenges and opportunities of the green and digital transitions. To this end, the plan consists of 60 investments and 25 reforms. They will be supported by EUR 1.8 billion in grants; 38% of the plan will support climate objectives and 21% of the plan will support the digital transition.
The transformative impact of Latvia’s plan is the result of a strong combination of reforms and investments which address the specific challenges of the country.
The Ministry of the Interior of the Republic of Latvia will implement and monitor the reforms and investments under its responsibility in two areas: climate change and environmental sustainability and the objectives of the legislative component.
The reforms and investments under the responsibility of the Ministry of the Interior of the Republic of Latvia will be implemented in the form of restricted project selection for total funding of EUR 39,154 million.