The Ministry of Economy and Innovation will partially reimburse the costs of recertification to help manufacturers of products of Lithuanian origin to replace the raw materials and components used in their production. EUR 1.5 million is earmarked for this purpose.

‘We are constantly looking for ways to help businesses address today’s global challenges. Russia’s aggression in Ukraine and fragile supply chains are forcing manufacturing companies to change the raw materials or components used in their products and to recertify their products. That is why we have developed a new measure that will allow businesses to amortise unplanned costs and ensure business continuity’, said Aušrinė Armonaitė, Minister of Economy and Innovation.
All economic entities operating in the manufacturing sector will be able to apply for funding under the measure ‘Recertification of Products of Lithuanian Origin’. Priority will be given in cases where the raw materials to be replaced were sourced from Russia, Belarus or Ukraine.

Up to 50% of the cost of recertification will be reimbursed per product, but no more than EUR 15,000. There is no limit to the number of products submitted by economic entities for recertification. The measure will be administered by the Public Institution Innovation Agency Lithuania; the call for proposals is expected to be launched this week.

The Ministry of Economy and Innovation is constantly assessing the situation to help Lithuanian businesses. In autumn, it plans to launch calls for proposals for businesses to receive EU Structural Fund support for the deployment of energy-saving technologies in industrial enterprises.

Currently, a new investment and working capital loan facility is also being negotiated with the European Commission to support the economy in response to the crisis caused by the war in Ukraine. Companies in various sectors affected by the crisis can already receive guarantees for working capital and investment loans, as well as for financial leasing transactions.
In addition, businesses can apply to Invega for a wide range of other financial support instruments. These include soft loans for the implementation of investment projects, direct loans to businesses affected by the actions of third countries, export credit guarantees, individual guarantees and portfolio guarantee instruments.

The Innovation Agency Lithuania invites those who wish to benefit from the measure ‘Recertification of Products of Lithuanian Origin’ to the distance training which will take place on 13 September at 10 a.m. The indicative duration of the training is 1 hour.

Daiva Keršienė, Programme Manager of Innovation Development and International Cooperation Division of Breakthrough Areas Department of the Innovation Agency Lithuania, will present the specificities of the instrument and the requirements for applicants during the training. Participants will be able to ask questions and be given answers throughout the training. All training materials will be published on the Innovation Agency Lithuania website after the event.

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