Exciting news from the European Union: the European Commission has allocated almost €1 billion (€928 million) for the implementation of the European gauge railway Rail Baltica, of which €394 million has been allocated to Lithuania. This is the largest funding Lithuania has ever received from the Connecting Europe Facility (CEF).

New rules boosting rail passenger rights across the EU, including better support in case of delays and more assistance for people with a disability, came into effect in June 2023.

Vice-Minister of Finance Mindaugas Liutvinskas, participating in the annual meeting of the Board of Governors of the European Investment Bank (EIB), announced Lithuania’s commitment to allocate EUR 10 million to the EIB’s newly established Trust Fund designated for financing needs of reconstruction of Ukraine in the short term (EU4U Fund).

The International Monetary Fund (IMF) mission led by Borja Gracia, which completed its work in Lithuania today, notes that although the Lithuanian economy is facing difficulties in the first half of this year, and the situation in the context of Russia's war against Ukraine continues to be rather uncertain, with decreasing inflation, rising wages and increasing population purchasing power and with the recovery of external demand, the second half of this year should be stronger in terms of economic development. The IMF experts emphasize that in the short term, the most important thing is to manage inflation and ensure the financial stability of the country in the face of challenges, while looking into the future, it is important to increase the productivity of the economy by implementing structural reforms.

Lithuania borrowed EUR 1.25 billion in the international capital markets by issuing a 10-year Eurobond.

LTG Infra – the company responsible for implementation of the Rail Baltica project in Lithuania – has repeated four calls for tender for the purchase of services for the preparation and implementation of projects for land acquisition for public purposes. The contract is planned to be signed this year.

Minister of the Economy and Innovation Aušrinė Armonaitė met with Jon Banner, Executive Vice President of McDonald's, who is visiting Lithuania, to discuss the corporation's plans for expanding its operations in Lithuania and the investment climate in the country.

The Green Finance Institute is being established for the smooth transition of Lithuania to a green economy, efficient use of renewable energy resources and to become a regional leader in the field of green finance. It is planned that by 2030, the transition to a green economy will require at least EUR 14 billion – of which almost EUR 10 billion are to be covered by public funds, mobilizing another EUR 4 billion from private investors. The main task of the Institute is to strengthen the partnership between the public and private sectors and promote the attraction of private investments, while also increasing the investment attractiveness of the entire country.

As part of an official visit to the United States of America (USA), a delegation led by Minister of Transport and Communications Marius Skuodis engaged in discussions with the administration of the Port of New York, which is connected to Klaipėda via a sea route. The meeting focused on exploring new avenues for cooperation, with the Port of Klaipėda actively seeking potential investors and destinations in the USA, also to aid the growth of its wind farm.

On the initiative of the Ministry of the Economy and Innovation and other institutions, a new service centre “International House Klaipėda” was opened up in Klaipėda to l help to ensure a smooth resettlement of foreigners to the port city. The Minister Aušrinė Armonaitė has no doubt that the activities of this centre will not only facilitate foreigners' access to quality public services, but will also help to significantly attract highly skilled workers and, in turn, foreign investors.