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-2022-24/2896 – measures in Lithuania
Country | Lithuania , applies nationwide |
Time period | Temporary, 08 June 2022 – 31 December 2022 |
Context | War in Ukraine |
Type | Legislations or other statutory regulations |
Category |
Supporting businesses to stay afloat
– Access to finance |
Author | Rasa Mieziene, Inga Blaziene (Lithuanian Centre for Social Sciences) |
Measure added | 15 September 2022 (updated 10 October 2022) |
On 7 June 2022, the Minister for the Economy and Innovation of the Republic of Lithuania passed Order No 4-801 and Order No 4-800, amending the Regulations on the Provision of Individual Guarantees for Loans and the Regulations on the Provision of Guarantees for Financial Leases which serve as a basis for providing individual guarantees to financial intermediaries in respect of their loans or leasing transactions for companies affected by Russia’s war against Ukraine. This measure aims at facilitating access to financing for businesses affected by Russia’s military aggression against Ukraine.
The measure is open to SMEs and larger businesses affected by the crisis arising from the war in Ukraine. A business is considered to be affected by the crisis caused by the war and thus eligible for aid guarantees, if trade with Ukraine, Belarus, or Russia amounted to a quarter or more of its imports or exports (including trade with EU countries) in 2021 or at least 3% of the expenditure in 2021 was on fuel, electricity and/or gas. The business will not be able to have trade commitments with Russia and/or Belarus or will have to have terminated them by 30 June 2022. Aid guarantees are granted to secure new leasing transactions and new loans to finance investments in tangible and/or intangible assets or to replenish working capital. The maximum amount guaranteed per beneficiary for a loan or leasing transaction is 15% of the average annual turnover of the loan or leasing recipient (beneficiary) over the last three years; or 50% of the energy costs over the 12 months preceding the month of application.
Guarantees for investment loans and financial lease transactions will be provided for a maximum period of 72 months. The aid guarantees will be provided until 31 December 2022.
No information available.
Workers | Businesses | Citizens |
---|---|---|
Does not apply to workers |
Importing/Exporting companies
|
Does not apply to citizens |
Actors | Funding |
---|---|
National government
Company / Companies Public support service providers |
National funds
|
Social partners' role in designing the measure and form of involvement:
Trade unions | Employers' organisations | |
---|---|---|
Role | Unknown | Unknown |
Form | Not applicable | Not applicable |
Social partners' role in the implementation, monitoring and assessment phase:
No information available.
No information available.
Citation
Eurofound (2022), Guarantees to loans and leasing transactions for businesses affected by the war, measure LT-2022-24/2896 (measures in Lithuania), EU PolicyWatch, Dublin, https://static.eurofound.europa.eu/covid19db/cases/LT-2022-24_2896.html
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