Twenty years of EU investments: more than EUR 16 billion invested in Lithuania’s prosperity
Since joining the EU, in almost two decades, Lithuania’s GDP per capita has increased by 199 per cent, and investments exceeded EUR 16 billion. EU investments have made a significant contribution to job creation, improving the quality of education, social and medical services, responding to the needs of people with disabilities, promoting entrepreneurship and protecting the environment.
“Lithuania constitutes a successful example of Cohesion Policy: we have been pursuing a successful, transparent and constructive European policy for two decades. During this period, almost EUR 20 billion was invested in Lithuania’s prosperity, and an additional EUR 10 billion is currently being invested. Lithuania’s GDP per capita has almost tripled. Together with EU investments, we create a comfortable life and high value-added jobs, improve the quality of education, social and medical services, improve the environment, promote entrepreneurship, reduce exclusion”, says Minister of Finance Gintarė Skaistė.
Over 20 years, more than EUR 3 billion has been invested in Lithuania’s education and science. The percentage of 30-34 year olds graduating from tertiary education in Lithuania is well above the EU average (61 % in Lithuania in 2022, as compared to 42.8 % of the EU average). Also, 89 non-formal education institutions have been renovated. More than 75 thousand unemployed people participated in vocational training, non-formal education, vocational guidance and skills development activities, most of whom have successfully re-entered the labour market.
Since joining the EU, the business environment has improved – the number of companies in Lithuania has more than tripled – from almost 29 thousand to more than 95 thousand.
Public investments contributed to a significant increase in construction activities. Especially favourable trends are in the engineering construction segment, which is significantly affected by EU-funded projects – investments in renewable energy generation. These trends should continue in the future. EU funding of EUR 569 million has increased the country’s capacity to produce energy from renewable energy sources (RES).
Over twenty years of EU investments, Lithuania has distinguished itself in the world as innovative, capable of creating a number of successful projects. EUR 660 million was allocated to strengthening scientific potential, start-ups, scientific innovation and R &D, science and business partnership, innovation in the public sector.
Nearly EUR 276 million has been invested over 20 years to improve the quality and accessibility of healthcare services.
The Social Housing Fund was replenished by more than 2 thousand housing units throughout Lithuania. Nearly EUR 314 million was also allocated to the modernisation of multi-apartment buildings.
New EU investment period
The new 2021-2027 investment period of the EU Funds opens up opportunities for Lithuania’s regions to become attractive investment and economic hubs. Targeted EU investments of more than EUR 7.5 billion in digitalisation, innovation, energy security and the green economy will ensure sustainable growth and development of the country’s regions.
For the balanced development of the country, investments will be made in 10 Lithuanian regional centres, realising their economic potential. Thus, the benefits of investments will extend not only to the residents of a specific city, but also to the entire region.
Compared to the previous EU investment perspective, regions alone will receive significantly higher investments. For the 2014-2020 period, about EUR 972 million of EU funding was allocated to the regions. In the new perspective, as much as EUR 1.6 billion of the EU Structural Funds has been allocated to the implementation of the programme.
Last updated: 06-05-2024
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