The Central Finance and Contracting Agency (CFCA) is a direct management institution subordinated to the Minister of Finance. The Minister of Finance exercises subordination of the institution via the Ministry of Finance

CFCA functions

  • functions stipulated for a cooperation institution for implementation of the EU funding for 2021 – 2027;
  • ensuring inspections of the implementation of planned reforms and investments and selection of investment project applications within the framework of the Latvian Recovery Fund (Recovery and Resilience Facility - RRF) (if required by regulatory enactments);
  • Development Cooperation Agency functions in Latvia;
  • functions stipulated for a cooperation institution for implementation of the EU funding for 2014 – 2020;
  • functions of a Public and Private Partnership (hereinafter – PPP) supervisory institution and functions of a competence centre; 
  • functions for implementation of the Swiss – Latvian cooperation programme delegated by the managing institution;
  • post-monitoring of the EU funding for 2007 – 2013 and the European Economic Area and Norwegian Government Bilateral Financial Mechanism 2004 – 2009 programming period (hereinafter EEA and Norwegian Government Bilateral Financial Mechanism (2004 – 2009)), implementation of observation of specific provisions and supervision of project result sustainability.

Mission

Supervision of implementation of EU funding and other financial instrument projects that are important for development of Latvia.

Vision

Modern partner and competent leader in the investment management of EU funds.

Strategic Aims or Priorities

  • Selection or projects pursuant to the laws and regulations and principles of good administration, control of achievement of results and use of funding. 
  • Professional, development-oriented and result-oriented personnel.
  • Clients, who are well educated about implementation of projects and the statutory requirements and are satisfied with the Agency’s services.
  • to implement and monitor programmes and projects within its competence pursuant to the procedure provided in the laws and regulations;
  • to ensure execution of duties of the officials provided in the laws and regulations, as well as the public laws on issues within the institution’s competence;
  • to draw up and implement database and archive of the programmes and projects within the institution’s competence;
  • to draw up proposals regarding improvement of the system for implementation and supervision of programmes and projects within the institution’s competence;
  • to carry out informative and consultative activities to ensure implementation of the programmes and projects within the institution’s competence;
  • to cooperate with the state administration bodies, foreign institutions and natural persons;
  • to carry out other tasks related to implementation and supervision of programmes and projects within the institution’s competence.

Professionalism

  • we are experts in the field, result-oriented, we efficiently apply our knowledge and experience in our work, and constantly improve;
  • we appreciate professional experience of our colleagues and cooperation partners, we share and learn from them;
  • we are open to changes, new and innovative ideas and solutions;
  • we think in long-term and big.

Responsibility

  • we understand the aims of our operation, we assume liability for the entrusted work, results, and consequences;
  • we base our activities on facts, we are independent and we do not tolerate fraud;
  • we are consequent, honest and open-minded in our work and decision-making.

Cooperation

  • our team includes our colleagues, cooperation partners and clients; we respect and appreciate their opinion;
  • in communication we are active, positive, available and solution-oriented;
  • we ensure equal attitude towards our clients, we respect the peculiarities and needs of each group of clients.

CFCA is accredited in accordance with requirements of the European Commission to administer:

  • Phare and Transition Facility programme in accordance with the Extended Decentralized Implementation System;
  • European Regional development fund for the 2004 - 2006 programming period;
  • EU structural funds and Cohesion fund for the 2007 - 2013 programming period;
  • EU structural funds and Cohesion fund for the 2014 - 2020 programming period;
  • EU structural funds and Cohesion fund for the 2021 - 2027 programming period.

In the beginning CFCA was responsible for three programmes with the total funding in amount of 28 million euro that were administered by five employees. In 2022 over 400 employees are responsible for financial instruments in amount of almost 6 billion euro.

In October 2015 CFCA received certificate a for compliance with the ISO 27001:2013 – information security management – standard, thus ensuring the necessary security measures for maintenance of the 2014 – 2020 Cohesion policy fund information system.