Lithuania is asking for a loan of over 1.8 billion euros from the EU’s economic recovery fund for investment, the Finance Ministry informed the European Commission on Friday.
Finance Minister Gintarė Skaistė says the most significant new investment is planned to focus on two areas: a billion euros will go toward loans to businesses and industry, and an additional 700 million euros toward electricity generation from renewable energy.
“New measures will not only contribute to the competitiveness of Lithuanian business promoting the integration into global green technology value chains but will also strengthen our country’s energy independence through significant investment in green electricity production,” Skaistė said in a press release.
It was said earlier that Lithuania was eligible for around 3 billion euros in loans and 2.2 billion euros in grants under the EU’s Recovery and Resilience Facility (RRF). The country had previously submitted a plan for the grant part only.
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