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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.
The head of the EC Representation in Lithuania assured that the EC had proposed 750 billion. The € 5,000 Recovery Fund will not reduce Member States’ support for the EU’s multi-annual budget.
“These are really different things, namely, yesterday the Recovery Fund budget was presented in detail, from which Lithuania can expect 6.3 billion. Of which 3.9 billion euros 2.5 billion euros in grants and 2.5 billion euros in loans in euros And this is part of the Recovery Fund, “said A. Pranckevičius.
According to him, the proposals for the new EU financial perspectives will also be clear in the coming days.
“Today and tomorrow specific documents will be issued on the 1.1 trillion years. Budget proposals of 2021-2027 euros. In them, you will see the planned investments for the Member States in different areas, from agriculture, cohesion, to projects of energy and infrastructure and elsewhere. And it certainly is not done at the expense of the core budget; on the contrary, the general budget proposed by the Commission yesterday is higher than that proposed by Charles Michel before the pandemic began, so there is no need to worry about that, “said A. Pranckevičius.
If approved by the Member States, the fund will be financed by loans on the EC markets. The money in the form of grants and loans would arrive in the country in the coming years, and the debt would be paid in 2027-2058, writes BNS.
“I will tell you how the Commission plans to finance this additional measure, which will undoubtedly be part of the general budget of the European Union in the future. We propose that the Member States temporarily increase the maximum limit of own resources to 2%. Gross national income of the European Union. This will allow the European Commission to leverage its strong credit rating and borrow in international markets to reach those € 750 billion. “Pranckevičius said Thursday.
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