Lithuania: Finance Ministry seeks EUR 1.8bn loan from EU

Lithuania has submitted a request to the European Commission, seeking a loan of over EUR 1.8bn from the EU’s Recovery and Resilience Facility (RRF) for investments, Baltic News Network reports. Finance Minister Gintare Skaiste said that around EUR 1bn would be allocated for loans to businesses and industry, while an additional EUR 700mn would be directed towards the development of renewable energy sources for electricity generation. Initially, Lithuania was deemed eligible for around EUR 3bn in loans and EUR 2.2bn in grants through the RRF. Until now, Lithuania had only submitted a plan for the use of the grant portion of the EU funding.