Riga City Council to borrow EUR 1.2 million to renovate several schools
Riga, March 26 (LETA) - Riga City Council on Wednesday decided to borrow EUR 1.2 million for repairs of several schools.
The renovation and restoration works are planned for the building of Riga Bolderaja New Elementary School.
The total cost of the project is EUR 559,000. Of this, EUR 503,100 will be borrowed by the municipality and EUR 55,900 will be co-financed by the municipality.
The school buildings are to be renovated in phases in the building of Riga Secondary School No. 66, and Riga State Gymnasium No. 3.
The total cost of this project is planned to reach EUR 806,000. Of these funds, EUR 725,400 are planned to be borrowed and EUR 80,600 are planned to be co-financed by the municipality.
The municipality plans to borrow from the Treasury or another lender. The repayment period of the loan is up to ten years and the deferred payment of the principal up to three years.
- Published: 26.03.2026 09:02
- Mārtiņš Kalaus, LETA
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Riga City Council to borrow EUR 1.2 million to renovate several schools