Eurofound's EU PolicyWatch collates information on the responses of government and social partners to the COVID-19 crisis, the war in Ukraine, rising inflation, as well as gathering examples of company practices aimed at mitigating the social and economic impacts.
Factsheet for measure LT-2020-15/353 – measures in Lithuania
|Country||Lithuania , applies nationwide|
|Time period||Open ended, started on 10 April 2020|
|Type||Legislations or other statutory regulations|
Supporting businesses to stay afloat
– Access to finance
|Author||Inga Blaziene (Lithuanian Social Research Centre)|
|Measure added||07 April 2020 (updated 05 May 2020)|
Loan guarantees will be provided to small and medium-sized and large companies that have suffered from COVID-19. The terms of guarantees for loans are regulated by the Regulations on the provision of guarantees for small and medium business loans, as approved by the Order No. 4-188 of the Minister for the Economy and Innovation of the Republic of Lithuania of 27 March 2020, and the Regulations on the provision of loan guarantees to financial institutions for loans taken by large enterprises, as approved by Order No. 4-187 of the Minister for the Economy and Innovation of the Republic of Lithuania of 27 March 2020.
Guarantees for loans and financial leasing represent the instrument available for small and medium-sized businesses and large enterprises. The National Development Agency (INVEGA) will guarantee banks and other financial institutions, including leasing companies, for the fulfillment of already granted and new loans. Loan guarantees can be granted in respect of:
The measure does not apply to loans granted to companies directly involved in the organisation of gambling and/or operating in the sectors of production, processing and marketing of weapons and munitions, tobacco and tobacco products and distilled alcoholic beverages, etc. Loans are guaranteed with an intensity of up to 80% of the loan amount, but not more than €1.5 million. The measure is planned to commence on 10 April 2020.
No information yet available.
|Does not apply to workers||Applies to all businesses||Does not apply to citizens|
Company / Companies
Public support service providers
Social partners' role in designing the measure and form of involvement:
|Trade unions||Employers' organisations|
|Form||Direct consultation outside a formal body||Direct consultation outside a formal body|
Social partners' role in the implementation, monitoring and assessment phase:
Social partners consulted only ad hoc, the tripartite meeting was not held.
Eurofound (2020), Guarantees for business loans and leasing, measure LT-2020-15/353 (measures in Lithuania), EU PolicyWatch, Dublin, https://static.eurofound.europa.eu/covid19db/cases/LT-2020-15_353.html
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Disclaimer: This information has not been subject to the full Eurofound evaluation, editorial and publication process.