Mechanism for investment in the transport infrastructure development in Latvia

Well-developed and efficient infrastructure is crucial for ensuring the effective functioning of the economy. A considerable lack of industry financing certainly affects the assessment of the quality of the overall infrastructure in a global context; according to the report by the World Economic Forum, Latvia languished in 51st position in its global league table for overall quality of the transport infrastructure provision [1]. In countries that have a high rating on the quality of the overall infrastructure, for example, Germany and Great Britain, appropriate investment mechanisms have been developed. They set benchmarks for decision-making and evaluation of investment efficiency. The goal of this study is to develop a conceptual approach to the creation of an investment mechanism for Latvia, based on the experience of Germany and other countries having a high rating of the quality of the overall infrastructure. In general, the results of the study can be useful in developing financial mechanism for investing in the development of transport infrastructure in Latvia as an integral part of the investment policy for the industry development.