aA
The European Commission offers to provide 97 million euros to Lithuania to help it transition toward a climate-neutral economy, informed sources have confirmed to BNS.
Vėjo jėgainės
Vėjo jėgainės
© Scanpix

The amount should be allocated to Lithuania under the so-called Just Transition Fund proposal unveiled by Brussels this week.

All EU member countries, except Poland, have committed to shift to a climate-neutral economy by 2050, which will require drastically reducing carbon emissions.

The Commission says the fund will help alleviate the socio-economic impact of the transition, especially for regions that rely on fossil fuels.

Lithuanian government officials say transport and agriculture are the sectors will face the most challenges during the country's transition toward climate-neutrality.

Measures to achieve these goals include increasing the share of renewable energy sources in the overall energy mix and the efficiency of energy consumption, switching to environmentally-friendly cars, and expanding forest areas.

Poland, whose economy relies heavily on coal, is likely to get the largest slice of Just Transition Fund, with 2 billion euros proposed for the country.

According to Euractiv.com, other "big winners" are Germany (877 million euros), Romania (757 million euros) and the Czech Republic (581 million euros). Luxembourg will be eligible for the smallest amount of 4 million euros.

"But member states will not be automatically awarded those sums as money will be allocated based on regional transition plans, which will have to spell out exactly how funding will be spent," the website said.

BNS
It is prohibited to copy and republish the text of this publication without a written permission from UAB „BNS“.

Finance minister: coronavirus to affect economy

The widening coronavirus outbreak will have implications for the Lithuanian economy , Finance...

Lithuanian businesses might feel coronavirus effect in spring

The coronavirus outbreak in China is already affecting Lithuanian businesses as some companies...

Leader in gaming and VR platforms to undergo major expansion in Lithuania

Unity Technologies , creator of the world’s most widely used real-time development platform for...

German polymer specialist establishing microduct systems production unit in Klaipeda

REHAU , a family-owned polymer specialist with annual sales of around EUR 3.5 billion, is...

Five cities may get another EUR 30 mln to buy electric buses

Lithuania's authorities are considering providing another 30 million euros in EU money to Vilnius,...

Top news

Lithuania declares nationwide emergency due to coronavirus threat

The Lithuanian government declared on Wednesday a nationwide emergency in an effort to minimize...

Installation of Chinese CCTV in Kaunas raises security concern

The installation of a CCTV system produced by Chinese company Hikvision in Lithuania's...

Police chief in Kaunas Zukauskas sacked

Darius Zukauskas , chief of Kaunas County Chief Police Commissariat , has been dismissed from the...

Lithuanian author long-listed for prestigious UK literary award

Noir Press announced that Lithuanian author Grigory Kanovich has just been long-listed for the...

Lithuanian model Ieva hits the London Fashion Week catwalk

A Lithuanian student from Kėdainiai swapped designing clothes for modelling them at one of the...