The Latvian Environmental Investment Fund("the Fund") was established on April 28th, 1997. The Ministry of Environmental Protection and Regional Development of Latvia owns 100% of the Fund’s shares. Since February 5th, 2004 the Fund has implemented quality management system of its operations in accordance with ISO 9001:2015 standard.
The Mission of the Fund is to reduce environmental pollution, promoting the implementation of environmental protection projects and also to increase the capacity of municipalities and commercial organizations in preparation and carrying out of qualitative and effective projects from their idea to realization. Our activities are directed to achieve the maximal improvement of environment, investing financial resources in implementation of environmental infrastructure development projects.
The Fund has worked with development of different environment protection and environment friendly projects from idea until its implementation for over 15 years. Activities are directed to reach maximal environment improvement, supporting commercial activities in public and private sector, stimulating financing attraction for project realization for environmental and business infrastructure development. Employees and experts of the Fund have at least 10 years of experience in implementation and coordination of international projects. Starting year 2010 the Fund provides supervision of implementation and post-implementation monitoring of projects co-financed by Climate change financial instrument (Green investment scheme- co-financing approximately 200 million EUR).
There are enterprises, public utilities, local authorities, associations and research centers among our partners. Working on a lot of energy related projects we have amassed remarkable experience and a wide network of contacts. We work in close collaboration with many local authorities regarding project development and project management, event and training organization and knowledge transfer actions.
As partner for cross-border territorial development and development cooperation projects we can contribute:
Our team of experienced project managers and financial managers consists of highly qualified professionals coming from diversified competency fields which enable us to cover quite a wide range of topics. The Fund ensures the project implementation with high management quality and according to the National and Program rules and requirements.
The main projects in 5 sectors of the Fund’s operations
| Financial services – to issue loans, combining local and foreign financial resources, in order to support municipalities and commercial companies in implementation of environmentally favorable projects | |
| 1998-2012 | Loan agreement with the Nordic Environmental Finance Corporation (NEFCO) of 3.5 million EUR for municipalities for implementation of water management projects |
| 1999-2002 | Loan agreement under the EU Phare program of 2 million EUR for implementation of environmental infrastructure projects |
| 2005-2008 | Loan agreement with the NEFCO of 3 million EUR (invested on revolving basis 3 times within 3 years period with total investment of 9 million EUR) for municipalities for implementation of the European Regional Development Fund (ERDF) co-financed water management projects |
| 2010-2013 | Loan agreement with the NEFCO of 5 million EUR for municipalities for implementation of the ERDF co-financed water management projects |
| Programme management – to pool financial recourses for implementation of environmental infrastructure projects providing appropriate and qualitative project implementation supervision | |
| 2003-2004 | Financing scheme "Reconstruction of boiler houses promoting fuel switch to biomass" supported by the United Nations Development Program (UNDP) (UNDP co-financing – 0.2 million USD) |
| 2003-2004 | Program "Energy Efficiency Initiative in Housing in Latvia" supported by German Federal Ministry for the Environment, Nature Conservation and Nuclear Safety – Project Implementing Unit (KfW loan – 5 million EUR, donation – 2 million EUR) |
| 2006-2008 | Project "Environmentally sound disposal of PCB containing equipment" supported by the UNDP – National Project Implementing Agency (UNDP co-financing – 0.7 million USD) |
| 2010-2011 | Project "Demonstrating and promoting best techniques and practices for reducing health-care waste to avoid environmental releases of dioxins and mercury " – National Project Implementing Agency (UNDP co-financing – 0.6 million USD) |
| Supervision of implementation of Climate change financial instrument (CCFI) co-financed projects – to ensure efficient use of CCFI co-financing for long-term operation of the projects and CO2 reductions | |
| 2010-2015 | The Fund provides supervision of implementation and post-implementation monitoring of projects co-financed by CCFI – National Implementing Agency (CCFI co-financing – 200 million EUR) |
| Development cooperation projects – to disseminate knowledge and expertise on development of efficient framework for implementation of environmental infrastructure projects | |
| 2008-2012 | The Fund’s staff participated in development cooperation projects as short term experts in Kosovo, Moldova, Serbia, Bosnia and Herzegovina, Azerbaijan, Georgia, Kirgizstan, Kazakhstan, Ukraine, Kurdistan Region of Iraq on the following topics – environmental policy development, environmental projects financing schemes, sectoral policies – water sector development, waste management etc. |
| 2012-2014 | Implementation of the project "Bioenergy Promotion 2 – from strategies to activities" ( EU co-financing - 1 388 089 EUR; Norwegian budget - 76 900 EUR) Baltic Sea Region 2007-2013 |
| 2014-2014 | Implementation of the project "Intelligent Energy Europe" funded project "SEAP Plus - more participants, more content across Europe" (EU co-financing -1 471 881 EUR) Intelligent Energy - Europe |
| 2012-2014 | Implementation of the project "Commercial mussel farming, processing and end-use in the Baltic Sea Region" (EU co-financing – 0.6 million EUR) Central Baltic INTERREG IVA |
| 2011-2013 | Implementation of the project "Efficient Energy Building Roadmap for Latvia" (EU co-financing – 0.2 million EUR) Intelligent Energy- Europe |
| 2012-2013 | Implementation of the project "Passive House Regions with Renewable Energy" (EU co-financing – 2 million EUR) Intelligent Energy- Europe |
| Awareness raising – to increase the level of awareness on opportunities and benefits of environment protection projects | |
| 2009-2010 | Project "Successful adaptation of the latest technological solutions for the implementation of environmental projects" (European Economic Area Financial Mechanism co-financing – 0.1 million EUR) – www.videsrisinajumi.lv |
The Fund is interested to become a project partner and to join actions which could fit our expertise, please let us know about our possible role in a project and the contribution we can give. Should you come across any suitable project ideas, please don't hesitate to contact us or to forward our profile to the partner searching organization.