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European Commission Will Fund Lithuania €3.85 Billion for Green Energy and Technology Transformation Plan

The European Commission has given the green light to Lithuania’s revised €3.85 billion Economic Recovery and Resilience Plan funding package. This updated plan focuses on green energy transformation and the shift to high-value-added technologies.

While Lithuania requested changes in certain tax-related aspects, the European Commission declined, deeming the reasons unsubstantiated.

The plan allocates 37.4% of funds to green initiatives, emphasizing climate goals.

Lithuania added investments, including funds for clean energy transition and a “REPowerEU” section for reform and investments.

The European Council now has four weeks to confirm the assessment, potentially allowing Lithuania to receive €150 million from the “REPowerEU” funds.

This decision follows ongoing discussions on tax reforms and real estate tax base expansion within Lithuania.

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