Lithuania seeks further EUR 1.1 bln from EU recovery fund

VILNIUS - Lithuania has asked the European Commission for a further 1.1 billion euros in funding from the European Union's Recovery and Resilience Facility.

This is the seventh and final payment request, the Finance Ministry said on Friday.

The ministry said the request covers intercity transport reform and investments in health, energy, building renovation, cybersecurity, education and innovation, among other areas.

According to the ministry, all 78 reforms have now been implemented and all 197 indicators have been fully achieved. Once the Commission confirms that all plan targets have been met, it is expected to pay Lithuania 992.8 million euros in late December, taking into account funds already received as an advance.

To date, Lithuania has submitted six payment requests and received nearly 2.85 billion euros from the Commission. With the latest payment, a total of almost 4 billion euros in European Union Recovery and Resilience Facility funds will have been invested in the Lithuanian economy over five years.