The amount of grants available to Lithuania under the EU’s Recovery and Resilience Facility (RRF) is being cut by 125 million euros, but the government will be able to borrow the same amount, Finance Minister Gintare Skaiste said on December 7.
“The grant part of the New Generation Lithuania plan was linked to economic indicators,” the minister told reporters. “As the Lithuanian economy was relatively less affected during the pandemic, the grant part earmarked for Lithuania was reduced after the GDP indicators were revised.”
However, the 125 million euros will be moved to the loan part of the RRF funding for Lithuania, according to the minister.
“Because Lithuania’s economy looked quite positive, the reduced grant part is being transferred to the loan part,” Skaiste said. (LRT/Business World Magazine)