To contribute to implementation of investment projects in Riga’s transport infrastructure, the municipality’s interim administration decided to borrow EUR 8.9 million from the State Treasury, as confirmed by Riga City Council.
This money is planned to be used on reconstruction of Ieleja Street and Asnu Street, outline red lines for parking areas along streets, cycling track from Imanta to Daugavgriva and Riga Center – Ziepniekkalns, as well as pedestrian walkways along Sarkandaugava Street from Celinieku Street to Allazu Street.
Riga City Council’s Transport Department will be responsible for those projects.
The repayment term for the loan is set for ten years with deferred payment of the principal amount for up to two years. (BNN/Business World Magazine)