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The European Union is providing Latvia with 617 million euros through 2032 via the Social Climate Fund. The funds will be used to improve the energy efficiency of homes, subsidize the purchase of electric vehicles, buy electric trains for regional transport, and establish bicycle rental services, according to IPN.
The support approved by the European Commission can amount to 15,000 euros for renovating an apartment, 20,000 euros for renovating a house, and 15,000 euros for purchasing an electric car. The specific eligibility requirements and the applicants’ contribution will be determined at a later date as part of the National Social Climate Plan.
The aid will primarily go to residents of energy-inefficient buildings who are having difficulty paying their bills. Beneficiaries also include those who already receive energy cost compensation. Latvian authorities will set up energy counseling centers to help households identify the right renovations, understand the forms of support available, and reduce their bills through measures tailored to their homes.
In addition to the incentive offered for the purchase of electric vehicles, the authorities in Riga will also invest in public transportation: electric trains will be purchased, and on-demand transportation services will be provided. Furthermore, free bicycle rental services will be introduced for 97 schools in areas without public transportation.
Latvia is the third European Union member state to have its National Climate and Social Plan approved, following Sweden and Lithuania. Five other countries have officially submitted their plans, and most of the remaining governments have submitted draft versions to the Commission.
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Access to a European market of over 870 million consumers, advanced IT infrastructure, and the digitalization of public services were the main advantages presented by the Republic of Moldova to Indian investors, during the first Moldova-India Business Forum, reports IPN.
At the forum, the Investment Agency presented the Republic of Moldova as a competitive business destination, highlighting its strategic geographical positioning, low operational costs, attractive tax system, multilingual workforce, and developed IT infrastructure. Moreover, representatives of the institution emphasized that over 79% of public services intended for the business environment are digitalized.
The Executive Director of the Investment Agency, Mihai Burunciuc, stated that the first Moldova-India Business Forum reflects the commitment of both states to strengthen economic relations and create new opportunities in the field of trade, investment, and sustainable development.
Present at the event, President Maia Sandru, highlighted India’s progress in the field of technology and innovation, noting that the Republic of Moldova aims to become the most business-friendly country in the region through the digitalization of public services. According to the head of state, during the meeting with her Indian counterpart, the two countries agreed to double trade exchanges in the next two years.
The President of India, Droupadi Murmu, stated that her visit to the Republic of Moldova aims to strengthen bilateral relations in the political, economic, and social fields. She said that India seeks a partnership based on trust and credibility and sees significant potential for cooperation in digital services, information technology, and cybersecurity.
In turn, the designated Prime Minister, Vasile Tofan, stated that the progress of the Republic of Moldova must be reflected not only in presentations, but also in concrete results for investors. According to him, reforms and modernization must be quickly felt by the business environment, and the Republic of Moldova can become a European development center for Indian companies in the fields of artificial intelligence, software, and cyber security.
During the presentation, the main economic data of the country were also highlighted. According to the Investment Agency, service exports reached 2.8 billion euros in 2025, foreign direct investments reached 5.1 billion euros, and 85% of these come from EU countries. Also, the IT sector contributes 7.5% to the gross domestic product, has over 50 thousand specialists, and exports 88% of its services. Among the promoted fields are information technology and business services, the automotive and electronics industry, the processing of agri-food products, the textile industry, the pharmaceutical sector, as well as infrastructure and renewable energy projects.
