Funding is allocated for a successfully implemented reform
On 12 March, the contract under the project "Consolidation of National Promotional Institutions" was signed between the Ministry of Finance and the public institution Central Project Management Agency. The project funds will be allocated to the consolidation of national promotional institutions. Up to EUR 2 million is provided for the implementation of this reform.
The purpose of the project is to concentrate knowledge and competences in a single strong national promotional institution, to unify and optimize the operational practices of the national promotional institution and fund management in various investment areas, creating prerequisites for attracting institutional investors, strengthening the partnership between the public and private sectors, and sustainably increasing the supply of financial instruments for financially viable projects.
During the consolidation, four companies: UAB "Investicijų ir verslo garantijos" (Investment and Business Guarantees UAB), UAB "Žemės ūkios poskolų garantijų fondas" (Agricultural Credit Guarantee Fund UAB), UAB "Valstybės investicijų valdymo agentūra" (State Investment Management Agency UAB) and UAB "Viešųjų investicijų plėtros agentūra" (Public Investment Development Agency UAB) will be merged into a single national promotional institution with a unified internal structure, concentrated financial and human resources, greater capital and international recognition.
The project is financed with the funds of the Recovery and Resilience Facility Plan "New Generation Lithuania", implementing the reform "Long-term Sustainability and Transparency of the National Budget". Up to EUR 2 million is provided for the implementation of this reform, and the costs of value added tax are covered by the State budget.
The project is implemented by the Ministry of Finance with partners – UAB "Investicijų ir verslo garantijos" (Investment and Business Guarantees UAB) and UAB "Valstybės investicijų valdymo agentūra" (State Investment Management Agency UAB).
Last updated: 12-04-2024
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