Lithuania expects EUR 1.7 b in EU economic recovery funds this year

VILNIUS – Lithuania expects to receive 1.7 billion euros in EU support for economic recovery and resilience by the end of this year, with the first disbursement under the Next Generation Lithuania plan expected in September.

With the first payment request, Lithuania should receive 565 million euros. The country has met 15 of the 33 indicators necessary to qualify for these funds.

The plan calls for almost 340 million euros in investments by the Energy Ministry, 433 million euros by the Economy and Innovation Ministry, some 320 million euros by the Transport and Communications Ministry, and 440 million euros by the Education, Science and Sport Ministry.

Lithuania has received 289 million in pre-financing for the plan worth 2.25 billion euros in total, according to the Finance Ministry.