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A. Pranckevičius, Head of the Office of the EC Representation in Lithuania, points out that the European Recovery Package consists of a long-term EU budget of 1.1 trillion. € 750 billion and a newly created new generation instrument EUR. The total financial power of this European recovery package is 1.85 trillion. EUR.
On Wednesday, European Commissioner Virginijus Sinkevičius told BNS that the new fund offers Lithuania 6.3 billion. euros Of these, 3.9 billion. € 2.4 billion in grants and € 2.4 billion in EUR – loans. This adds to the multi-year financial perspective.
According to the Commissioner, if the Member States agree, Lithuania can receive a total of more than 17.7 billion from this fund and the EU budget in 2021-2027. € 15.3 billion in EU aid, including possible loans; no loans
A. Pranckevičius points out that this is a package of solidarity, convergence, cohesion and future.
“It is a solidarity package because it is trying to unite the Member States to help each other. It is also a convergence package, as it is designed to help countries emerge from the crisis uniformly, to avoid large disparities between main economic recessions and to avoid major shocks in the EU and in the market.
It is also a cohesion package, because much is being invested in the regions to achieve much more sustainable economic growth for all of us. It is also a package for the future, with a strong emphasis on green and digital transformation. These are future policies that the EC believes can guarantee not only the acceleration of the EU’s recovery, but also lay the foundations for the future economic model “, introduced A. Pranckevičius.
According to him, the package consists of three pillars. The first pillar is intended to support Member States. The second pillar is for private investment. The third pillar is resistance to the crisis.
“The oversight of the European Commission and state institutions, the participation of civil society and the media will be particularly important. The next seven years will see the biggest financial injection in the history of Lithuania, if we combine the EU budget and the Fund Therefore, special attention should be paid to transparency and added value.
The fact that the fund is not separate from the budget is good news. An agreement will require the consent of the European Parliament and national parliaments. This guarantees democratic transparency and accountability to elected parliaments, ”he commented on how to ensure the efficient use of funds.
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.
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