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Lithuanian EcoMin to distribute 8m euros

Staff writer |
The Ministry of Economy in Lithuania will allocate LTL 13.2 million (3.8 million euros) to implement projects under the measure New Opportunities.

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According to Minister of Economy Evaldas Gustas, it was planned to appropriate LTL 14.5 million (4.2 million euros) under the measure New Opportunities. However, taking into consideration recent situation, the figure has risen and LTL 27.7 million (8 million euros) will be distributed from the European Union structural funds to finance participation of businesses in international exhibitions and fairs.

Lithuanian Business Support Agency's (LVPA) project selection commission has recommended the Ministry of Economy to allocate LTL 27.5 million (7.9 million euros) for 256 projects. Funds should reach businesses in September.

Companies plan to attend more than 1,200 exhibitions. According to Minister Gustas, approximately 90% of them will participate in exhibitions in Germany, Great Britain, Ireland, France and other countries. Only 10% of entities intend to participate in exhibitions in Russia.

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