The European Commission has adopted its Partnership Agreement with Lithuania, laying down an investment strategy in the country worth 6.4 billion euros in cohesion policy funding for the period 2021-2027.
Compared to the period of 2014-2020, the amount decreased by approximately one-fourth, according to Lithuania’s European Commissioner Virginijus Sinkevicius.
“We received approximately 8.4 billion euros in the previous period, but Lithuania’s current level of development is way different from what it was eight years ago,” he said.
“Including 2.2 billion euros approved by the EU last year within the framework of the Recovery and Resilience Facility, the amount of financial support is virtually the same,” Sinkevicius added.
According to the commissioner, 2.1 billion euros would be earmarked to support the green transition that would allow renovating more than 4,000 apartment buildings in Lithuania.
Another 1.8 billion euros would be allocated to measures addressing social problems, reduction of poverty and income inequality, with nearly 1 billion euros planned for the transformation of the country’s economy and urban development each. (LRT/Business World Magazine)
