Author (Person) | Saulnier, Jerome Leon |
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Author (Corporate) | European Parliament: European Parliamentary Research Service |
Publisher | European Parliament |
Series Title | EPRS Briefings |
Series Details | PE 729.283 |
Publication Date | March 2024 |
Content Type | Overview |
Summary:Under the Recovery and Resilience Facility (RRF), Lithuania's national recovery and resilience plan (NRRP) had an initial value of €2 224 million. In June 2022, Lithuania's grant allocation was revised downwards to €2 100 million (- 5.6 %). In October 2023, however, Lithuania submitted a request to amend its NRRP, which includes an additional grant allocation of €193.7 million for a new REPowerEU chapter and a loan request worth €1 551.7 million. Lithuania also requested to transfer a portion of its share of the Brexit Adjustment Reserve to its plan (€4.7 million). Together, these additional resources have brought the overall EU contribution to Lithuania's amended NRRP to €3 849 million. These resources represent 0.5 % of the entire RRF, equal to 7.9 % of the country's gross domestic product (GDP) in 2019. In November 2023, the Council adopted an amending implementing decision by which it gave the green light to Lithuania's modified plan. The new plan contains 31 reforms and 10 investments including the REPowerEU chapter with one reform and three investments. Apart from the added chapter, the other modifications submitted by Lithuania affect 46 measures of the initial plan. Moreover, Lithuania proposed to add six new measures (three investments and three reforms), to be funded by additional loan support. Measures under the current NRRP are to be completed by 2026. Lithuania has so far received 25.5 % of the resources (in the form of pre-financing and one grant payment). Further payments will depend on progress made in implementing the plan. Lithuania's NRRP is consistent with the challenges and priorities identified in the European Semester, the annual cycle for coordinating and monitoring each EU country's economic policies. The European Parliament participates in interinstitutional forums for cooperation and discussion on the implementation of the RRF and continues to scrutinise the European Commission's work. This briefing is one in a series covering all EU Member States. Third edition. The 'National Recovery and Resilience Plans in the EU' briefings are updated at key stages throughout the lifecycle of the plans. This briefing is part of the series Next Generation EU (NGEU) delivery - How are the Member States doing? |
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Source Link |
Link to Main Source
https://www.europarl.europa.eu/thinktank/en/document/EPRS_BRI(2022)729283
Alternative sources
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Subject Tags | Recovery and Resilience Plan |
Countries / Regions | Lithuania |
International Organisations | European Union [EU] |