Latvia Saeima committee supports new State Sports Fund

The Saeima Budget and Finance Committee has provided conceptual support for a bill to establish the State Sports Fund. This new legal entity, overseen by the Ministry of Education and Science, is designed to serve as a specialized financing instrument for the sports sector.

The fund aims to improve the coordination and efficiency of public fund usage by managing resources from the state budget, European Union funds, and donations. According to Aiva Vīksna, chair of the committee, the model is intended to reduce administrative burdens and ensure more transparent, results-oriented distribution of funds.

The Ministry of Education and Science noted that the fund will help mitigate risks of conflicts of interest and allow for a clearer separation of functions between policy creation and fund administration. The legislation requires the Cabinet of Ministers to allocate at least five million euros annually to support the fund's objectives, with specific emphasis on youth sports and regular physical activity.