Bloomberg News

EU Aid Suspension for Lithuania Is Temporary, Minister Says

March 01, 2012

Lithuania will provide details on the usage of European Union funds in 2010 to reverse the suspension this week of regional development aid to the Baltic nation, Finance Minister Ingrida Simonyte said.

At issue is 26 million litai ($10 million) in aid from a total of 3 billion litai allocated for 2010, the minister said last night on the television program Panorama. The European Commission, the EU’s executive arm, asked for details on the use of the funds after Lithuania’s state auditor raised questions over projects that received funding from the bloc.

“The European Commission asked us to provide additional information about the issue after the state auditor’s report,” Simonyte said. “We will continue to finance European projects as usual, which is that we finance the projects from our own funds and get reimbursed later. European projects will continue to be carried out.”

To contact the reporter on this story: Milda Seputyte in Vilnius at mseputyte@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net


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