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Latvia to join Eurovision network with EBRD loan
Latvia becomes the latest country to join the European network of television satellite broadcasters as a result of a US$ 898,000 (ECU 712,000) loan to Latvijas Televizija (LT), the Latvian state-owned television company. The loan, from the European Bank for Reconstruction and Development (EBRD), is part of a US$ 15 million (ECU 11.5 million) regional programme to benefit up to 15 central and east European countries and will improve the free flow of audiovisual information in Latvia.
"Even though EBRD's loan is relatively small, this project will have a significant impact on the efficiency, accessibility and quality of television broadcasting in Latvia and will assist in the privatisation of Latvian Television in the medium run", said Guy de Selliers, Deputy Vice President of the EBRD.
The loan is being guaranteed by the European Broadcasting Union (EBU), a non-profit association whose members constitute west European broadcasting organisations. Established in 1950 under Swiss law, it promotes cooperation between its members and broadcasting organisations outside western Europe. It also represents, and looks after, the interests of its members from a financial, legal and technical point of view and promotes the exchange of television and radio programmes among its members.
The project will involve the design, supply and installation of one earth station for LT. The earth station will be compatible with Eutelsat I and Eutelsat II satellite systems and designed for unattended operation in accordance with EBU technical and environmental specifications. As a result of this project, LT will be able to participate in the daily exchange of news, sports and cultural programmes by way of an independent and cost-effective system.
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