RIGA, Nov 5 (LETA) - Implementation of the action plan for economic growth and security of Latvia's eastern regions in 2025-2027 may require an additional EUR 156,969,926, according to estimates presented by the Smart Administration and Regional Development Ministry at a meeting of Latgale Subcommittee of Saeima Human Rights and Public Affairs Committee.

In total, EUR 476,082,274 will be needed for implementation of the plan. The majority of these funds, or 69 percent, are earmarked for economic development, 26 percent for reducing security risks, and the rest for human resources development.

However, additional proposals will require a further EUR 156,969,926, including funds for vocational education, Malnava College, establishment of a Cadet High School, and grants for regional libraries.

36 percent of the additional funding could be allocated for beefing up security in the region by the establishment of four new disaster management centers and upgrading sirens. Funds could also be allocated to the Media Aid Fund to improve media outreach in Latgale, as well as for a program aimed at strengthening the non-governmental sector. Additional fuinds are also needed to ensure continuity of critical infrastructure operation in healthcare and for other purposes.

In the economic section of the plan, additional funds could be invested in expanding support for Latgale Special Economic Zone and Rezekne Special Economic Zone, establishing four representative offices of the Investment and Development Agency of Latvia, and other objectives. This could include the creation of a EUR 20 million investment fund to support local businesses.

A public consultation on the action plan will run until November 27.