EUR 542 Million Reached Lithuania for the Plan "New Generation Lithuania"
Today, the European Commission (EC) transferred the funds under the first payment request to Lithuania – over EUR 542 million for the implementation of the reforms and investments provided for in the plan "New Generation Lithuania".
"The funds amounting to over EUR 542 million reached Lithuania today for the implemented indicators of the plan "New Generation Lithuania". The European Commission has positively assessed the great progress made in solving Lithuania's long-term, entrenched challenges,” noted Minister of Finance G. Skaistė adding that Lithuania will also take advantage of the possibility of supplementing the plan. “We are willing to use the opportunity to additionally stimulate the green transition and the transformation of the Lithuanian industry, strengthening the resilience of the country's economy; therefore we will supplement the existing plan "New Generation Lithuania" with new investments of EUR 1.8 billion. The changes in the plan will reflect the geopolitical reality and strategic goals of Lithuania".
Currently, during the implementation of the plan "New Generation Lithuania", calls for proposals worth EUR 1.2 billion have been announced, projects worth EUR 0.5 billion are already being implemented.
The plan consists of a total of 191 indicators, the progress of which is monitored periodically together with EC experts. The uniqueness of the plan "New Generation Lithuania" is that the funds are not paid out for incurred project costs, but only when the indicators are met, so the number of announced calls perfectly illustrates that both reforms and investments continue to proceed rapidly.
With the second payment request to the EC it is planned to report on 17 indicators, of which 10 indicators have already been reached to date. All remaining indicators are planned to be achieved by the time the payment request is submitted. We plan to submit the second payment request to the EC after the approval of the amendment to the plan "New Generation Lithuania", which is scheduled for autumn. Therefore, Lithuania should receive another EUR 260 million by the end of this year.
Please note that in 2021, the EC already transferred the advance funds of EUR 289 million for the plan "New Generation Lithuania" to Lithuania.
Significant reform results were achieved in the areas of green transformation, digitization, public sector, and reduction of social exclusion. The considerable progress has also been made in the areas of the development of the quality of education in the regions, as well as the development of the promotion of the science and innovation economy.
Last updated: 12-05-2023
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