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Lithuania Has Absorbed Total ERDF Allocation

Date

2012 10 09

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Vilnius, October 9. The European Commission has transferred to Lithuania LTL100 million – the final balance from the European Regional Development Fund. A significant part of the projects under the Single Programming Document of Lithuania (SPD) 2004-2006 the implementation of which was completed in 2010 were financed from this Fund. 

For the past two years (from the submission of closure documents in 2010) the European Commission has been carrying out verifications on whether Lithuania has properly used the ERDF allocation. No irregularities have been detected, thus the transferred amount of funds is precisely such as the amount indicated by Lithuania in its last request for payment to the European Commission.

Total ERDF allocation to Lithuania for the SPD implementation was LTL 2.1 billion. Lithuania has absorbed the total planned allocation.

The Single Programming Document of Lithuania (SPD) 2004-2006 was financed by four EU Structural Funds assistance. The final payments have already been transferred under three Funds. Only the Financial Instrument for Fisheries Guidance has not been closed yet, however, the closure procedure is about to finish – the final balance amount is being co-ordinated with the European Commission.

The SPD investment in public infrastructure, human capital and physical capital of enterprises contributed to modernisation of the Lithuanian socio-economic development and the economy. Total allocation to Lithuania from the EU Structural Funds during this period amounted to LTL3.091 billion. Three and a half thousand of projects on infrastructure, production, human resources, rural development and fisheries development financed by these funds have been implemented.

These investments created prerequisites not only for the long-term competitiveness of the country, but also for enhancement of labour productivity – about 27 thousand jobs were created, of which more than 13 thousand are long-term jobs.

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