EUR 1 billion for the Lithuanian economy with EUR 7.5 million to improve employee skills


2023 09 12

Įgūdžiai MVĮ foto.jpg

Representatives of Lithuanian small and medium-sized businesses are encouraged to develop and improve employee skills. The instrument aimed for this purpose will be open to companies in both the capital and central and western regions of Lithuania and the Ministry of the Economy and Innovation will allocate € 7.5 million. 

‘We are investing in people to address the challenges of industrial transformation. This will include a range of training courses to upskill and retrain employees with a particular focus on digital skills,’ said Minister of the Economy and Innovation Aušrinė Armonaitė. 

Under the ‘Įgūdžiai MVĮ’ (skills for SMEs) instrument, up to €2.5 million is planned for the capital region and up to €5 million – for central and western regions of Lithuania. The maximum amount of funding for micro and small enterprises amounts to €40 000; for medium-sized enterprises  – to €100 000.

‘It is important to acquire the right skills to adapt to a constantly changing environment. Therefore, EU investments will be used to promote necessary changes relating to digitisation, robotics and demand for sustainable jobs. This will enable companies to become more innovative and their employees will be able to upgrade skills to meet the market needs,’ said Chancellor of the Ministry of the Economy and Innovation Iveta Paludnevičiūtė.

Plans on project implementation can be submitted to the Innovation Agency before 5 February 2024.

Detailed terms of the call are available on the EU Investment website.

By the end of 2023, the Ministry of the Economy and Innovation will launch calls for funded activities for almost €1 billion to strengthen the Lithuanian economy. Around €365 million is planned for business, innovation and investment; €320 million – for the digitisation of the public and private sector; €268  million – for greening the economy. 

The ‘Skills for SMEs’ measure is funded from the Programme for the EU Funds Investments in 2021-2027.