RIGA, Jan 14 (LETA) - Latvia's Action Plan for the economic growth and security of the Eastern Border Region from 2025 to 2027 will be finances mainly with public and EU funds.

Of the total allocation, financing from the government budget is planned at EUR 269.6 million, while EU and other foreign funding is planned at EUR 375 million.

Smart Administration and Regional Development Minister Inga Berzina (New Unity) said at a news conference on Tuesday that decisions on this plan have been taken at different times and some decisions will be taken later this year. Although the funding for the implementation of this plan will be provided at different times, it is important that the money will be invested in Latvia's eastern border area over the next three years.

Prime Minister Evika Silina (New Unity) noted that the decisions to establish a cadet school and to create 11 emergency management centers have been taken specifically thanks to the eastern border area plan.

As reported, the government on Tuesday endorsed an Action Plan for the economic growth and security of the Eastern Border Region from 2025 to 2027, which will cost more than EUR 640 million.

The plan identifies the main challenges that need to be tackled in the eastern border area as a result of Russia's war against Ukraine. These challenges are common to countries bordering with Russia and Belarus in the EU and include the worsening of the already unfavorable economic situation, difficulties in maintaining business activity, for instance, small and medium-sized enterprises.

The negative impact on citizens' sense of security and increased social tensions have been cited as challenges, hence the need to strengthen societal resilience and preparedness.

Negative impacts on potential investment flows, disrupted transport corridors, and halted tourist flows were also mentioned in the action plan.

The measures included in the plan are aimed at strengthening security, economic development and human resources development.