Taiwan’s investment will go towards projects beneficial to both Lithuania and Taiwan

VILNIUS – A 1-billion-US-dollar loan fund proposed by Taiwan will be designated for joint Lithuanian-Taiwanese projects, Taiwanese Minister of National Development Ming-hsin Kung has said.

“Taiwan and Lithuania have areas where we can cooperate together. When I visited Lithuania [in October], Taiwanese and Lithuanian businesses held 240 B2B meetings, after these meetings some of these businesses have already come up with projects and they want to cooperate so these funds would apply to those projects,” he said on Tuesday.

Any project would be able to vie for support, the minister said emphasizing the one and only condition – benefit for the economies of Taiwan and Lithuania.

The minister mentioned various areas of investment, including semiconductor industry and microchips used in the car industry.

He did not specify any particular projects or terms, however.

The Lithuanian Economy and Innovation Ministry reported earlier on Tuesday that Taiwan would soon launch a 1-billion-US-dollar loan fund for joint Lithuanian-Taiwanese business projects.

According to the ministry, Ming-hsin Kung informed Economy and Innovation Minister Ausrine Armonaite about the upcoming launch of the fund during their remote meeting on Tuesday.