On February 11 this year, the government approved the reallocation of €3.34 million to the RB Rail budget to cover Latvia’s co-financing obligations for RB Rail expenses in 2024 and this year. “This is not the full amount of the budget needs and discussions on the remaining part of the funding will continue,” Jackus said.
According to him, the RB Rail board has now decided to temporarily postpone non-essential costs, especially those that do not have a Latvian budget allocation, until financing decisions are made.
Jackus added that as regards the discussion on the remaining budget requirements, the company is confident that a solution will be found that will allow RB Rail to continue with the full scope of activities as defined in the project management agreement between the Baltic States.
At the same time, the joint venture will continue to participate in government discussions on cost allocation and financing solutions in Latvia in cooperation with the Ministry of Transport, with further decisions expected by April 2025, Jackus noted.
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