Commission approves over EUR 800 million State aid for Lithuanian development bank ILTE
The Lithuanian measures support the development bank Investicijos į Lietuvos ekonomiką (ILTE) via a EUR 813 million in capital injections and annual tax and dividend exemptions worth EUR 15 million. The measure aims to strengthen ILTE’s capacity to finance projects facing market failures across key sectors such as agriculture, renewable energy, transport, digital and social infrastructure, where access to private financing is often limited due to high risks and long investment horizons.
The Commission approved the measures under Article 107(3)(c) of the Treaty on the Functioning of the EU (‘TFEU’), concluding that they are necessary, appropriate and proportionate to facilitate the development of economic activities.
For more information, see the Commission’s PR.