Government Approves €3.34M for Rail Baltica, CEO Confident in Project's Future
The government has approved a €3.34 million reallocation to the RB Rail budget on February 11. This move aims to ensure the continuation of the Rail Baltica project in Latvia. The project's CEO, Jackus, has expressed confidence in finding a solution to proceed with the full scope of activities.
The reallocation covers Latvia's co-financing obligations for RB Rail expenses in 2024 and 2025. While this amount addresses immediate needs, it is not the full budget required. Discussions on the remaining part of the funding will continue.
RB Rail will maintain its involvement in government discussions on cost allocation and financing solutions. The company has temporarily paused non-essential costs until final decisions are made, expected by April 2025.
The approved €3.34 million will help RB Rail meet its immediate co-financing obligations. The company remains optimistic about finding a solution to proceed with the full project scope. Further decisions are anticipated by April 2025.
