Latvia in the Eurovision Choir of the Year going to develop a new show to join the existing Eurovision Family of Events. The event was officially confirmed on 30 November 2016, with Latvia chosen to host the inaugural event scheduled to take place on 22 July 2017. On 14 February 2017, it was confirmed that the inaugural contest would take place at the Arena Riga, located in the Latvian capital. The arena is primarily used for ice hockey, basketball and concerts. Riga Arena holds a maximum of 14,500 and was completed in 2006. It was built to be used as one of the venues for the 2006 IIHF
Bank of Latvia the only central and issuing bank. It took over the ownership and structure of the USSR banks, Latvijas Republikānisko banku and other state credit institutions. On March 4, 1992, the Supreme Council of the Republic of Latvia passed the Law "On the Acquisition of the Bank of Latvia established in 1922". The Bank of Latvia's status as the central bank of the country and the issue bank was definitively consolidated by the laws of the Republic of Latvia "On Banks" and "On the Bank of Latvia" adopted on May 19, 1992. For the first time in Latvia, the independence of