Citadele Bank

Citadele Bank issues 12.8 million euros to modernise Latvian National Sports Centre Infrastructure

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Citadele Bank has granted a loan of 12.8 million euros to the Latvian National Sports Centre (LNSC) for the reconstruction of the LNSC’s Daugava Stadium culture and sports centre, as well as for the development of the Mežaparks sports centre. 

The funding is intended for construction works at LNSC sports centres in Riga: the development of a multi-functional athletics arena; the construction of a new athletics field and reserve football field, including the installation of an inflatable football hall; and infrastructure development at the Mežaparks sports centre, including modernising the tennis courts and building access to the boat dock. 

"Further modernization of LNSC infrastructure will allow us to achieve the company's strategic goal: ensuring modern, competitive and sustainable management and development of LNSC multifunctional sports bases, creating suitable conditions for various sporting and cultural events on a national and international scale. Alongside the new sports infrastructure, we continue to improve accessibility at our facilities, providing the opportunity for everyone to participate in sports and promoting a healthy and active lifestyle. We are pleased that, by granting this loan, Citadele Bank also sees the potential for the growth of sports infrastructure, investing in the creation of the infrastructure necessary for children and young people, amateurs, and high-level athletes," says LNSC Chairman of the Board Daniēls Nātriņš

"Modern and high-quality sports infrastructure plays an essential role not only in the growth of professional athletes, but also in promoting a healthier society in general. As long-standing supporters of various sports initiatives, we are pleased to be a financial partner of this very important project for the city of Riga and contribute to the development of national sports centres, ensuring that everyone interested has even greater and more accessible opportunities to realise their sporting goals and be healthier," says Vaidas Žagūnis, Citadele Board Member and Head of Corporate Banking in the Baltics. 

LNSC manages and develops modern, high-quality and multifunctional sports infrastructure at Latvian national sports centres: the Daugava Stadium culture and sports centre; the Sigulda bobsleigh and luge track; the Lielupe tennis centre; and the Mežaparks sports centre. It is also overseeing the construction of facilities including an athletics arena, a team sports hall, the central field at Daugava Stadium, and a football and athletics training ground. 

The 100 % shareholder of LNSC is the Ministry of Education and Science of the Republic of Latvia. LNSC sports centres have been granted the status of national sports bases. 

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