Functions

Public Institution Lithuanian Business Support Agency (LBSA) is a non-profit institution established by the Ministry of Economy for the purpose of administering European Union (EU) support and co-financing funds. As the executive institution in the structure for the administration of EU funding in Lithuania, LBSA administers EU funding granted for the development of Lithuanian business, R&D, tourism, and the energy sector.

By serving the public interest and performing activities for public benefit, LBSA aims to achieve transparency and provide quality services and information.

The objectives of LBSA activity are described in its Articles of Association.

The main spheres of activity in administering national and EU funding:
•    Announcing calls to submit applications for funding;
•    Checking and assessing applications;
•    Concluding funding agreements;
•    Supervising and controlling implemented projects;
•    Checking and assessing payment claims;
•    Collecting information on granted funding, entering data into the information system;
•    Providing the information necessary for applicants to prepare and submit applications, organizing information and training workshops as well as other events;
•    Publicising granted assistance;
•    Performing other assigned functions.
Other functions related to administration of assistance and the activities specified in the Articles of Association may also be assigned to LBSA.

Last updated: 19-12-2014