European Commission: Lithuania can claim 6.3 billion. of the EU Recovery Fund

This was confirmed to the BNS by Virginijus Sinkevičius, European Commissioner for the Environment.

“Lithuania will be offered 6.3 billion of the new fund. Of these, 3.9 billion euros. 2.4 billion euros in grants and 2.4 billion euros in loans – these are additional funds in addition to the multi-year financial perspective,” said V Sinkevičius at BNS on Wednesday.

According to the Commissioner, if the Member States agree, Lithuania can receive more than 17.7 billion in total from this fund and the EU budget in 2021-2027. € 15.3 billion in EU aid, including possible loans; no loans

Italy and Spain, which were the most affected by the coronavirus pandemic, are expected to concentrate the recovery fund.

If approved by the Member States, the fund will be financed by loans from the markets of the European Commission. The money in the form of subsidies and loans would arrive in the country in the coming years, and the debt would be paid in 2027-2058.

In Brussels, it is considered that the product of the debt payment could be collected through an agreement on a common tax on plastic, the income from the carbon trading system or the joint taxation of large companies, the digital sector.

So far, however, states have shown little enthusiasm for introducing common taxes, and there is a good chance that, in the absence of an agreement in the future, countries will either increase their contribution or reduce funding for joint programs.

Representatives of the Lithuanian authorities claim that Lithuania benefits from deeper integration and solidarity in the geopolitical sense, but at the same time sees the risk that the debt will be repaid at the expense of cohesion policy, which would mean a decrease in structural support.