The European Union's Ecofin has greenlit Lithuania's updated economic recovery plan, "New Generation Lithuania," unlocking 1.75 billion euros mainly in loans. The plan allocates 1 billion euros for business loans, over 550 million euros for renewable energy generation loans, and nearly 198.4 million euros in grants from the RepowerEU initiative. Finance Minister Gintarė Skaistė anticipates the first funds to enter the economy by year-end. Despite debates, the government approved the plan in October, aligning with the European Commission's agreement, though differences existed over tax reform deadlines. Implementation ties to receiving funds from the EU's Recovery and Resilience Facility. These investments are anticipated to propel GDP growth by an average of 0.97 percent yearly, totaling 492.5 million euros annually from 2023 to 2027. (ICE VARSAVIA)

Fonte notizia: https://www.lrt.lt/