“The planned financial instruments are aimed at digitising the public sector and developing digital solutions, modernising e-services, and improving the accessibility of services to citizens and businesses. Companies are also actively investing in innovation and renewable energy, which is important not only for adapting to rapidly changing circumstances, but also for building a stronger, greener Lithuania,” said Aušrinė Armonaitė, Minister of the Economy and Innovation.
Since mid-September last year, 31 calls have been announced. The total value of these calls amounts to EUR 517.19 million. In the field of innovation, 15 calls have been launched for EUR 142.6 million, and in the field of investments in renewable energy sources, 7 calls have been launched for EUR 95 million. For digitalisation of government and business, 9 calls have been launched for EUR 279.6 million.
The Ministry of the Economy and Innovation also responded to the very strong business demand for the renewable energy facility by providing EUR 31.87 million in support instead of the planned EUR 10 million. With the investment from this facility, companies plan to purchase the equipment and facilities necessary for the production of renewable energy generated from solar energy.
Funding has already been allocated to the deployment of renewable energy by companies. The calls also aim to help companies attract foreign direct investment in research and experimental development. Some of the calls are aimed at helping companies recover from the economic downturn, as well as funding early-stage innovators developing new high value-added products.
The nearly EUR 1 billion plan for the Lithuanian economy is divided into three parts. EUR 365 million in calls for business, innovation and investment, EUR 320 million for digitisation of government and business and EUR 268 million for a greener economy, to be launched by the end of 2023 for a wide range of private and public sector projects.
The plan aims to increase business, innovation and investment spending on research and development (R&D) in a targeted way, reaching 1.5% of GDP by 2024. There is also a strong focus on start-ups and existing businesses.
In the field of green economy, the bulk of the funding goes to investment projects focusing on renewable energy sources to move away from the use of fossil fuels, as well as investment projects aimed at improving operational efficiency.
Digitisation will focus on developing and improving new and existing digital services for businesses and citizens. Existing e-services will be expanded and made more accessible to people with special needs, as well as the use of open data will be promoted.
