RIGA, Dec 14 (LETA) - In order to ensure that residents of Riga receive heating service throughout the winter, SEB Banka has issued a EUR 22 million overdraft to Rigas Siltums municipal heating company, the bank reported.

Rigas Siltums board member Birute Kruze explained that Rigas Siltums has to pay to suppliers for current energy supply, while consumers of heating energy pay their bills the next month. Stabilization of the cash flow will help the company to continue the started European Green Course, and the share of renewable energy consumption by the company has already reached 50 percent. Bu 2030, Rigas Siltums has resolved to increase this share to 90 percent.

Rigas Siltums belongs to the Riga City Council (49 percent stake), state of Latvia (48.995 percent), Energijas Risinajumi. RIX (2 percent), and Latvenergo (0.005 percent).

SEB Banka is Latvia's third largest bank by assets.