Latvia’s sports sector is set for a boost as the government redirects €312,683 from its state long-term commitments in sports – specifically, a subsidy to the Latvian Olympic Committee (LOK) for repayment of state-guaranteed loans – to bolster funding for sports organizations, programs, and events. The reallocation aims to cover expenses for significant grassroots sporting events.
The Ministry of Education and Science (IZM) explained that the savings were realized by arranging for the payment to be made before the end of 2025, utilizing funds saved in the previous year’s budget. This strategic move frees up resources to support a wider range of community-level sporting initiatives.
The additional funding will enable more publicly significant sporting events to be held this year. According to a decree issued by the Cabinet of Ministers, the IZM will submit a request to the Finance Ministry for the re-allocation of the state budget appropriation, ensuring the funds reach sports federations for the implementation of grassroots sports events.
This year, the state budget program “Sports,” under sub-program 09.07.00 “Grant for Support of Sports Organizations, Programs and Events,” allocates funds to 50 accredited federations, priority federations, and federations in key areas of development. The program also provides stipends for student-athletes, fostering dual-career development and promoting physical activity among young people. This investment underscores Latvia’s commitment to developing both elite athletes and a strong foundation of participation in sports at all levels.
