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Latvia's hotels will receive over 4 million euros in coronacrisis aid

The government decided on Tuesday, November 3, to cover operational costs, employee pay, utility charges and various other charges of hotels affected by COVID-19 crisis.

Support for entrepreneurs will be available after the agreement of the aid in the European Commission. Applications with the Latvian Investment and Development Agency (LIAA) could start at the end of November or early December, the Ministry of Economics said in a statement. Support for entrepreneurs is scheduled to be available by June 2021.

All available resources to support the tourism industry affected by COVID-19 have been channeled to support hotels.

Tourism companies established after June 2019 will also be eligible for aid, in contrast to previous regulation.

It is expected that 200 hotels in Latvia could receive aid in total of EUR 4 746 290, or an average of EUR 23 731 per applicant.

Minister of Economics Janis Vitenbergs (“KPV LV”) stressed that the government's decision would help “to address the situation of some tourism companies that are currently on the brink of bankruptcy”.

 

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