A historic decision may be made at the upcoming government meeting.
In the government, or rather in the Ministry of Finance and in the party that oversees this ministry - "New Unity" - there has long been a dream to "bring someone to the stock exchange," namely state and municipal enterprises. However, the discussions have not progressed beyond talk. And yet, after several years of discussions, the first sign has appeared... the "Rules for Issuing Bonds of the Riga Municipality" have been prepared!
If adopted, which could happen as soon as next Tuesday at the upcoming government meeting, the city authorities will gain the opportunity to issue their own securities - bonds that will allow the Riga City Council to raise funds through the stock exchange, for example, for the modernization of the heating system, replacing fossil fuels with "green" alternatives.
However, before the bond issuance begins, the Riga authorities will be required to provide all information about their plans in this regard to the Cabinet of Ministers. The government will also determine the maximum amount of obligations that the Riga municipality can undertake through the issuance of bonds.
