Additional EUR 118 million to boost competitiveness of Lithuanian regions
The Ministry of the Economy and Innovation is providing almost €118 million in additional funding for all 20 projects of companies on the reserve list to encourage investors to set up in the regions of Akmenė, Jonava and Mažeikiai. This will help to make these regions even more attractive and competitive.
"Of the €67 million we announced last year, we have allocated almost €53 million to attract potential investors to the Akmenė, Jonava and Mažeikiai regions. However, these funds were not enough for all those who wanted to implement their projects, so in order to meet the needs of all applicants, we additionally financed 20 more projects of companies on the reserve list. These funds will allow us to attract more investments to Lithuanian regions and create new jobs," said Aušrinė Armonaitė, Minister of the Economy and Innovation.
With the additional funding, the largest number of projects will be implemented in Jonava district - 13. They will receive more than 80 million euro in additional funding. 5 projects worth almost EUR 23 million will be implemented in Mažeikiai district and 2 projects worth EUR 14.5 million in Akmenė district.
"We have received a lot of interest in this instrument and we have been looking for ways to finance all the positively evaluated projects. These investments will help companies to implement sustainable solutions, invest in production and services, and develop the necessary infrastructure. In addition, modern, environmentally friendly factories will be built and equipped," said Iveta Paludnevičiūtė, Chancellor of the the Ministry of the Economy and Innovation.
The additional funding is specifically targeted at businesses in Akmenė, Jonava and Mažeikiai districts, as these districts are home to some of the most polluting industries in Lithuania, generate a significant share of the Lithuanian economy's value added and need to be transformed.
The measure "Attraction of foreign and local investors with high job creation potential in the municipalities of Akmenė, Jonava and Mažeikiai districts" is financed by the Equitable Transformation Fund of the European Union Investment Programme 2021-2027.
The business applications received were evaluated by the Innovation Agency.