Vice-Minister of Finance M. Liutvinskas: “It is important in the near future to agree at EU level on further financial support to Ukraine”
Today, Vice-Minister of Finance Mindaugas Liutvinskas in Strasbourg, France, had a meeting with Members of the European Parliament Michael Gahler and Eva Maria Poptcheva and discussed the EU financial support to Ukraine and Lithuania’s ambition to attract the newly created EU Anti-Money Laundering Agency to Vilnius.
During the meeting with Mr Michael Gahler, the mid-term review of the EU Multiannual Financial Framework 2021-2027 was discussed, focusing on a special financial instrument for Ukraine. The European Commission (EC) proposes EUR 50 billion to be allocated as support to Ukraine in the form of preferential loans and grants for the period 2024-2027.
“The EU continues to consistently support Ukraine, both on its road to victory in the war against the aggressor russia and in helping the country move closer to the EU membership. The proposed a 4-year financial support package of EUR 50 billion is another concrete proof of this. These funds will be allocated to the country’s budget support, short-term reconstruction works and will be linked to the implementation of reforms necessary for Ukraine’s moving closer towards the EU. It is essential in the near future to reach a political consensus on the establishment of this instrument– ensuring uninterrupted delivery of support and providing clarity to both Ukraine and Western partners”, stressed Mr M. Liutvinskas.
During the meeting, other issues related to the mid-term review of the Multiannual Financial Framework, including military mobility, were also discussed. Vice-Minister M. Liutvinskas stressed that in the current geopolitical context, additional EU-level funding for this area is needed to increase the security of the Community as a whole.
During the meeting with Ms E. Poptcheva, Mr M. Liutvinskas presented Lithuania’s ambition to attract the newly created EU Anti-Money Laundering Agency (AMLA) to Vilnius and discussed issued related to decision-making at EU level. Vice-Minister emphasised that competition for AMLA is intense, however Lithuania has strong arguments on why Vilnius is the best place for a new agency.
“Lithuania has gained valuable experience in managing money laundering and terrorist financing risks in both the traditional banking sector and the Fintech segment. Our country stands out for dynamic cooperation between the public and private sectors in the field of risk management and a large number of compliance professionals. Vilnius can offer Western quality of life at a competitive price as compared to other major European cities. Moreover, the establishment of AMLA in our country would be in line with the principle of geographical balance at EU level and would send a strong signal of confidence in the current geopolitical context”, stated Mr M. Litvinskas.
Last updated: 19-09-2023
Related news:
S&P Global Ratings confirmed Lithuania’s credit rating
Defence bonds were distributed for EUR 80.5 million across recent issues