Up to 7 June, the Ministry of Economy and Innovation has approved a total of EUR 148.1 million in support for businesses affected by quarantine restrictions.

EUR 109.1 million was allocated for subsidies, EUR 31.26 million for soft loans, EUR 2.13 million for market tax refunds and EUR 5.6 million for subsidies for self-employed people.

The largest value of subsidies (28.5% or EUR 30.6 million) was allocated to companies in the trade sector. Accommodation and catering companies are in second place (27.6%), for which EUR 29.6 million has been allocated. Manufacturing companies are in third place (8.1%) with an allocation of EUR 8.7 million.

The largest share (25.5%) of soft loans was granted to wholesale and retail trade enterprises amounting to EUR 7.8 million, while loans to accommodation and catering companies amounted to EUR 6.2 million (20.4%). Companies in the construction sector are in the third place with an allocation of EUR 3.6 million (or 11.9%) for loans.

Companies most affected by Covid-19 and eligible for a subsidy must submit applications to the ‘Mano VMI’ (My STI) system of the State Tax Inspectorate (STI). Soft loans for small and large companies affected by Covid-19 are provided through INVEGA.
The Ministry of Economy and Innovation in cooperation with the Department of Statistics and donor institutions provides more statistics on business support, including from UAB Investicijų ir verslo garantijos (INVEGA, the Investment and Business Guarantee Agency), the Employment Service and the State Social Insurance Fund Board under the Ministry of Social Security and Labour (SODRA).

These figures show that by 7 June this year, the state has allocated a total of more than EUR 1.2 billion in support to businesses affected by Covid-19 which was distributed to 140,000 beneficiaries.

Information from the Ministry of Economy and Innovation

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