Latvia plans to use 260 million euros for the construction of Rail Baltica in 2026. Eight million euros of this amount are intended for improving the railway. A representative of the Latvian Ministry of Transport said that Latvia must ensure a railway connection between Estonia and Lithuania.
In Estonia, nearly 500 million euros will be used for the construction of Rail Baltica this year. Chancellor Marten Kokk of the Ministry of Climate said that this difference stems from how far each country has progressed. Construction in Estonia is already far advanced, but in Latvia not as much.
Kokk emphasized that if everyone does a good job, the railway will be completed by 2030. Latvian Transport Minister Atis Svinka said the same thing a few days ago.
The Latvian Ministry of Transport said that the construction of the railway largely depends on funding from the European Union. Sufficient funds are needed to make Rail Baltica successful.
The Baltic states plan to receive 85% of the construction costs from the European Union. The countries must pay 15% themselves.
Latvia is also considering using private sector assistance in the construction of the railway. They have done this for highways as well.
Latvia confirmed that they must ensure a railway connection with Estonia and Lithuania. This is stated in both European Commission documents and Latvian laws.
The Latvian Ministry of Transport said that Rail Baltica is very important for the entire Baltic region. This project shows that Latvia, Estonia, and Lithuania are working together.
In Estonia, plans include spending 494 million euros on the construction of Rail Baltica this year. By 2027, the plan is to use 686 million euros.
The first phase of Rail Baltica is expected to be completed by the end of 2030. It will include one track pair along the entire railway.