Agreed to accelerate Lithuania's investment needs for EUR 346 million
Today, the Government approved the proposal made by the Ministry of Finance to accelerate investments of EUR 346 million of the EU funds allocated to Lithuania, mainly focusing on innovative and green energy projects. Following the Government decision, the funds of the 2021–2027 Programme for EU Funds’ Investments and of the Plan “Next Generation Lithuania” will be also reallocated.
“With the approval by the Government, the Ministry of Finance will finance the projects that have gained a lot of popularity in the field of renewable energy, innovation and business development, as well as the projects that strengthen people's safety and decision-making. We have no doubt that raising energy efficiency in industry, faster transition of both business and people to the use of renewable energy or fostering innovation are the right direction for Lithuania's economic growth to continue”, says Vice -Minister of Finance Vaida Česnulevičiūtė-Markevičienė.
According to the Ministry of Finance, additional investments are channelled into two popular calls the projects developed under which are waiting for funding. The first call is a call from the Ministry of Economy and Innovation, which will help to attract direct investments to the Lithuanian regions. Specifically, almost EUR 72 million is allocated for attracting local and foreign investors in Akmenė, Jonava and Mažeikiai district municipalities, of which the projects for EUR 55 million are already waiting on the reserve list and the call for the remaining amount will be announced in the near future. While the second call is a call from the Ministry of the Interior investing almost EUR 13 million in getting people involved in solving local problems. The support will be provided for the implementation of local development strategies.
In digitalisation field, the focus will be on the development of new and existing digital services. In this area, business has shown great interest in developing innovative products and being competitive not only in domestic but also in foreign markets. Therefore, additional investments of almost EUR 173 million will be channelled towards the development of technological solutions: modernising e-services, improving public digital services, developing AI and innovative technologies, etc.
In the field of green economy, EUR 80 million will be allocated to investment projects focused on renewable energy sources, abandoning the use of fossil fuels. It is planned to announce calls to install solar power plants in households, which have so far always been very successful. The calls to install electricity storage facilities throughout Lithuania will also receive additional investments. Business planning to actively invest in renewable energy sources signals that it is actively preparing for the transition to a climate-neutral economy, therefore funding will be allocated to companies for the deployment of renewable energy sources.
Asstrengthening of the defence needs continues to be of particular relevance in Lithuania, EUR 8 million will be earmarked for the development of people warning and information infrastructure.
In total, within the decision of the Ministry of Finance which has been approved by the Government, the Ministry of Economy and Innovation will allocate additionally more than EUR 263 million for calls, the Ministry of Energy – EUR 45 million euros, the Ministry of Environment – more than EUR 16 million and the Ministry of the Interior – almost EUR 21 million.
Last updated: 13-08-2024
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