1 billion for the Lithuanian economy: more than EUR 103.3 million in contracts signed in the first quarter

Following the successful completion last year of a €1 billion plan to boost the economy and create more opportunities for Lithuania, the Ministry of Economy and Innovation signed financing contracts worth €103.33 million in the first quarter of this year. More than €15.35 million was also disbursed to businesses and institutions during this period. 

"Investing €1 billion to strengthen the country's economy opens up opportunities for private and public sector projects that ensure sustainability, innovation and digitalisation in a wide range of areas. Last year we launched 53 calls for proposals for more than €957.5 million, and this year we have new measures that will contribute to the country's global competitiveness. So we invite you to take advantage of sustainable investment opportunities," said Aušrinė Armonaitė, Minister of the Economy and Innovation. 

In 2023, a total of 30 tenders worth €341.6 million will be launched in the field of innovation, 13 tenders worth €330.3 million will be launched in the field of renewable energy investments, and 10 tenders worth €285.6 million will be launched in the field of digitalisation of the state and business.

Also in 2023, the Ministry of the Economy and Innovation has launched an additional call for €40 million to reduce pollution, in line with the need to tackle climate change. The funding will encourage companies to adopt energy-efficient technologies to reduce harmful carbon dioxide emissions.

In addition, planned funding for the deployment of renewable energy has been tripled from €10 million to €31.87 million for 226 industrial companies to ensure that all 226 eligible industrial projects receive the funding requested.  

The plan also aimed to increase business, innovation and investment spending on research and experimental development (R&D). It also focused on start-ups and existing companies.

In the area of digitisation, the focus was on creating and improving new and existing digital services for businesses and citizens, expanding e-services, making them more accessible to people with special needs and promoting the use of open data.

Around €500 million worth of calls are planned for this year.

Last updated: 15-05-2024

Related news:

Ministries join efforts with municipalities to further increase the number of flights from Palanga

EIMIN: €8 million distributed to industry to recycle waste and develop innovative products

EIMIN: Large project contracts attracted almost half a billion euros of investment to Lithuania

EIMIN: Opportunities open up for more investment in Taiwan

A. Armonaitė: Defence industry has not been given enough attention so far