"It is very important for us to involve social and economic partners in the process of updating the plan “New Generation Lithuania”, because we all have a common goal – to create the most favourable ecosystem and conditions for the development of high added value business and the development of renewable energy resources. I believe that this discussion is the key to the best decisions, so that the planned measures meet the goals of the transformation as well as the needs and opportunities of the companies," said Vice-Minister of Finance Vaida Markevičienė during the meeting.
The updated plan "New Generation Lithuania" aims at ambitious goals for which an additional EUR 1.8 billion will be allocated, using the possibility of a borrowing instrument and the funds of the "REPowerEU" initiative.
The updated plan "New Generation Lithuania" foresees a new up to EUR 1 billion financial instrument for the development of green, innovative, digital technologies and the production and export of high added value products. Currently, a model of a financial instrument is being prepared so that the Lithuanian business becomes a more active participant in the green transformation market. This instrument will contribute to the Green Finance Action Plan 2023-2026 prepared by the Ministry of Finance, which aims to green the public sector and administrative processes and to increase private sector financing and involvement in the green transition.
The ambition to produce all the electricity needed by the State from renewable energy sources by 2030 will be doubled by speeding up the implementation of the 1-gigawatt project, which will ensure the energy independence of the Lithuanian electricity sector. Therefore, almost EUR 700 million will be allocated for solar and wind energy production, which will be supplied to energy poverty communities, businesses and municipalities as well as central government buildings.
The event was attended by representatives of employers and the business sector and other related associated organizations, as well as the representatives of the Presidency and public authorities.
