The conference organised in Vilnius by the Ministry of Finance and the European Commission Representation had debate on the implementation of the EU Recovery Plan in Lithuania
The European Union, facing with the threat of the COVID-19 pandemic to the economy, adopted the Recovery and Resilience Facility (RRF) in February 2021. All Member States, including Lithuania, have developed national plans to implement this measure.
Lithuania’s Recovery and Resilience Plan ‘Next Generation Lithuania’ covers a wide range of investment and reform measures. EUR 3.85 billion, of which EUR 2.3 billion in grants and EUR 1.55 billion in loans, are earmarked for the implementation of the Plan.
The Conference ‘Promoting the Green Transition and Lithuania’s Innovation Potential’ held in Vilnius on 9 July focused on aspects, such as the green transition, energy security and aid for business expansion and restructuring towards higher added value. The Conference was organised by the European Commission Representation in Lithuania and the Ministry of Finance of the Republic of Lithuania.
Following three years after the approval of the Plan ‘Next Generation Lithuania’, the initial results of investment and reforms have now become visible: electric vehicle charging stations are being installed, modular renovation is starting, the state data lake is plunging deeper, and centres where business and science cooperate are emerging. To date, Lithuania has already received EUR 1.3 billion under the Plan ‘Next Generation Lithuania’, the disbursement of which is linked to the achievement of almost 17 % of the targets set.
“The Plan ‘Next Generation Lithuania’ refers not only to investment, but also to regulatory changes that ensure a long-term outcome towards a more resilient and higher value-added economy. Today, three-quarters of these regulatory decisions have been implemented, and we are in the investment phase of rapid economic entry. Calls for projects have been announced for almost EUR 3.7 billion and contracts have been concluded for more than EUR 3.2 billion. Effective implementation of the Plan is the joint responsibility of all of us, as it programmes the changes needed for the country's economic growth and resilience”, said Minister of Finance Gintarė Skaistė.
“The Recovery and Resilience Facility is a very ambitious EU funding instrument that was designed to help the Member States’ economies recover from the COVID-19 pandemic and strengthen their resilience, as well as encourage the economies to become greener, more digital and more competitive. RRF funding for Lithuania (EUR 3.85 billion) represents 5.4% of Lithuania’s annual gross domestic product – this is a truly significant source of funding in this turbulent geopolitical period. It is important to remember that the receipt of these funds is linked to Lithuania's reform and investment objectives in various sectors, such as energy, transport, education or tax system reform. The objectives will have to be achieved by the end of August 2026, so the discussions at the Conference gave scope to debate about the progress towards their achievement“, said Head of the European Commission Representation in Lithuania Marius Vaščega.
At the conference, representatives of the state and EU institutions, business, social partners and the public discussed the implementation of the RRF and the Plan ‘Next Generation Lithuania’, reform and investment priorities, challenges emerging and results achieved.
Last updated: 13-08-2024
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