- EIB Group financing for Latvia rises to record €381 million in 2025, supported by opening of organisation’s first Riga office.
- Funding strengthens Latvia’s energy and water systems and expands access to finance for small firms, farmers, exporters and students.
- Relative to the size of its economy, Latvia is one of the largest beneficiaries of financing from the EIB Group.
The European Investment Bank (EIB) Group increased financing for Latvia to a record €381 million in 2025 to speed up the green transition, strengthen infrastructure and promote loans for households and businesses. The EIB Group last year also opened its first office in Riga to anchor a closer partnership with authorities, companies and financial intermediaries in the country.
“2025 was a significant year for the EIB Group in Latvia,” said EIB Vice-President Karl Nehammer. “With record financing and our new office in Riga, we are now closer to our partners than ever before – supporting energy security, modern infrastructure and better access to finance for people and businesses across the country.”
Financing by the EIB Group in Latvia last year equalled 0.9% of the country’s gross domestic product (GDP). That support helped mobilise total investments of about €1.3 billion, equivalent to 2.9% of GDP or €682 per person.
Over the past five years, annual EIB Group financing for Latvia has averaged €195 million. Relative to the size of its economy, Latvia is one of the largest beneficiaries of financing from the EIB Group, which includes the European Investment Fund (EIF).
Green investments dominated the EIB Group’s activity in Latvia in 2025, accounting for nearly 90% of operations. Of the organisation’s total financing in the country last year, more than €305 million came from the EIB and over €76 million came from the EIF.
Energy and infrastructure posted the biggest gains in 2025. A €200 million EIB loan to Latvenergo will modernise the electricity-distribution network, improving reliability for 1.9 million customers and preparing the grid for more renewable energy. A €35.2 million facility for Sunly will add four solar parks with total capacity of 329 megawatts (MW), enough to power up to 180,000 households. And in the water sector, a €70 million loan to Rīgas ūdens will upgrade the capital’s network and cut losses.
Security and resilience also advanced last year. The EIB provided advisory support for Latvia’s first defence public‑private partnership, helping shape new military infrastructure in Selonia and Kuldīga as part of the organisation’s stepped-up backing for security projects across Europe.
Small and medium-sized enterprises (SMEs) and households in Latvia are the beneficiaries of EIF‑backed initiatives in 2025. A regional agreement with Citadele Bank, together with new deals with BluOr Bank and Industra Bank, expands access to finance and green investments for small firms in Latvia and across the Baltics. Farmers gain from an EIF guarantee with LANDE enabling about €10 million in collateral‑free loans, while exporters receive €7.2 million in guarantees via Altum under the European Union’s Ukraine Export Credit Guarantee Facility. A further €66 million agreement improves access to loans for Latvian students.
Beyond the headline figures, the EIB Group’s support in 2025 benefitted around 1,400 Latvian SMEs as well as Mid‑Caps and sustained almost 13,000 jobs across the country.
“This year, we aim to deepen our support for affordable housing, innovation, security and defence, and improve access to finance for small businesses,” said Nehammer.
Background information
About EIB Group
The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. The EIB Group also includes the European Investment Fund (EIF), boosting Europe’s competitiveness and security. Built around eight core priorities, the EIB finances investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and the bioeconomy, social infrastructure, the capital markets union and a stronger Europe in a more peaceful and prosperous world.
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