On Wednesday, the governments approve the draft Partnership Agreement, which defines the investment directions of the EU funds for the period 2021-2027, which will now be submitted to the EC.
According to the EC’s initial proposal, funding from the European Social + and Regional Development Funds for the Capital Region would be reduced to € 43 million. Therefore, Lithuania proposes to increase this share to the maximum allowable amount – almost 700 million euros. with national funds of around € 1.4 billion. euros.
“The allocation of funds to the capital region will allow maximizing Lithuania’s growth potential, financing business and science synergy projects, giving priority to innovation, research, and reducing green and social exclusion,” said Minister of Finance Gintarė Skaistė.
According to her, competing in the international market, the planned EU funds are primarily intended for investments in the transformation of the Lithuanian economy, the creation of innovation and high added value.
“For the balanced development of the country, investments will also be made in 10 Lithuanian regional centers, realizing their economic potential. In this way, the benefits of investments would be felt not only by the residents of a particular city, but also by the entire region, ”G. Skaistė asserted.
In her view, significant investment in the new period will focus on renovation, the promotion of renewable energy sources, sustainable mobility and the circular economy.
The Partnership Agreement is a strategic document on which the EC-Lithuania negotiations on the five Funds – European Regional Development, Cohesion, European Social Fund +, Fair Transformation and European Maritime Affairs, Fisheries and Aquaculture – are based.
Under the agreement, it is planned to invest almost 6.35 billion from five funds. Lithuania will additionally contribute 1.7 billion euros. The total investment will be around € 8 billion. euros. It consists of 3 programs: the EU Funds Investment Program for 2021–2027, the Lithuanian Fisheries Sector Program for 2021–2027 and the Material Deprivation Reduction Program.
Following the formal submission of the draft Partnership Agreement to the EC, the EC may submit its comments within 3 months and the decision on the approval of the Partnership Agreement may be taken within 4 months of its receipt.
However, public projects in areas such as transport, green transformation and employment are already underway.
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