In order to secure safe and uninterrupted operation of Palanga airport and to avoid flight restrictions due to its ageing infrastructure, EUR 10.25 million is to be invested into reconstruction of its runways, taxiways and platform. Today, on the basis of the Ministry of Transport and Communications proposition, the Government approved the decision to allocate this budget to the airport needs by temporarily reducing financing of other communication sector facilities.

In order to support small and medium sized businesses in Lithuania, who are under strain from the COVID-pandemic, Lithuanian financial intermediary PayRay Bank has signed two guarantee agreements with the European Investment Fund. The two guarantees are made available under the European Guarantee Fund, an initiative of the EIB Group and EU Members States. In total, the operation will guarantee a portfolio of new SME financing by PayRay Bank for a maximum of €50 million.

In order to promote international long-distance passenger rail services in Europe and to launch high-speed and overnight rail services between the capital cities and commercial and cultural centres of Europe, Minister of Transport and Communications Marius Skuodis, accompanied by other EU transport ministers and the European Commission, signed a Letter of Intent this week with regard to developing international high-speed and overnight rail services in Europe.

The basis for economic recovery is further containment of the pandemic and massive vaccination of the population – it is foreseen in the updated spring economic development scenario for 2021-2024 prepared by macroeconomic experts of the Ministry of Finance.

Over 1300 rail industry professionals from 34 countries, including the Baltic States, Germany, Italy, Finland, UK, Sweden, France, and others tuned in for the RB Rail AS Procurement webinar held on 30th March. The main goal of the webinar was to provide more detailed information about the Rail Baltica procurement process, evaluation criteria, and main requirements that will help potential suppliers to succeed in future tenders.

The international credit rating agency Moody’s Investment Service has upgraded Lithuania’s A3 (positive outlook) long-term borrowing rating to A2 (stable outlook) in 2015. Another credit rating agency S&P Global Ratings has affirmed the A+ long-term borrowing rating previously granted to Lithuania and maintained a stable outlook.

The European Commission has disbursed €13 billion to six EU Member States in the sixth instalment of financial support under the SURE instrument. This is the third disbursement in 2021. As part of today's operations, Czechia has received €1 billion, Belgium €2.2 billion, Spain €4.06 billion, Ireland €2.47 billion, Italy €1.87 billion and Poland €1.4 billion. This is the first time that Ireland has received funding under the instrument. The other five EU countries have already benefitted from loans under SURE.

In the aviation industry, summer season symbolically starts on the last Sunday in March. Already in April, at Lithuanian Airports travellers will be able to choose from nearly 40 flight routes, among which are popular holiday destinations and routes that are relevant to businesses and people living abroad.

The Commission welcomes the entry into force of the EU4Health programme on last Friday. This follows the Council adoption on 17 March and the vote on the programme by the European Parliament on 9 March. It marks the final step towards making €5.1 billion available to strengthen the resilience of health systems and promote innovation in the health sector. EU4Health will make a significant contribution to the post-COVID-19 recovery by making the EU population healthier, supporting the fight against cross-border health threats and boosting the EU's preparedness and capability to respond effectively to future health crisis, as part of a future strong European Health Union.

The Bank of Lithuania published the monetary financial institution (MFI) balance sheet and interest rate data for February 2021, which show that: