22 Million EUR Investment for Greener Businesses
The Ministry of the Economy and Innovation is allocating an additional EUR 22 million of EU investment to businesses introducing environment-friendly technology eco-innovation under the ‘Eco-Innovation LT+’ instrument for the period of 2014-2020.
‘Businesses are very much interested in this instrument, which in fact demonstrates that the Lithuanian business understands the need and is ready to introduce environment-friendly technology eco-innovation. We seek to encourage companies to invest in cleaner production, use resources more rationally and manufacture products with a reduced environmental impact. Businesses may choose whether they want to improve products or change the technology process,’ says Vice-Minister of the Economy and Innovation Jekaterina Rojaka.
Under the ‘Eco-inovacijos LT+’ instrument, Lithuania’s SMEs may invest intangible asset (equipment, technology), introduce cleaner production innovation, modernize and optimize production processes, change raw materials and technologies into more environment-friendly ones, carry out wasteless production and create conditions for re-utilization, recycling and recovery of waste through eco-design, etc.
The largest amount allocated to one project makes EUR 1.5 million and the smallest one makes EUR 50 thousand.
The total amount planned to be allocated for businesses under the ‘Eco-Innovation LT+’ instrument in the period of 2014-2020 makes EUR 86,89 million.