On 7^th August, the national agency “Investment and Development Agency of Latvia” signed an agreement with the state joint-stock company “Mortgage and Land Bank of Latvia” (“Latvijas Hipotēku un zemes banka”) (Mortgage bank) on implementation of a project “Support to self-employment and business launching”, allocating it funding of the European Social fund and the state budget in the amount of 14 315 238 lats.

The purpose of the activity “Support to self-employment and business launching” is to raise the economic activity in the country (particularly – in territories outside Riga), developing knowledge and skills in business operation of business start-ups, as well as providing the required financial support to launch a business activity.

The funding shall be granted in accordance with the Cabinet of Ministers regulations of 31 March 2009 No.293 “Regulations of action programme “Human resources and employment” amendment 1.3.1.2: activity “Support to self-employment and business launching””. The activityis financed from the funds of the European Social fund, state budget and Mortgage bank. The total volume of the project is 23 mln lats, including the funding of the European Social fund and the state budget – 14.3 mln lats and the funding of Mortgage bank – 8.7 mln lats.