EU structural assistance for innovations and entrepreneurship development

Total allocation of EU structural assistance for Lithuania for the period 2007-2013, provided from the European Social Fund, European Regional Development Fund and Cohesion fund, amounts more than 23 billion litas. This equals to an additional annual state budget. Total allocation of EU structural assistance for Lithuania for the period 2007-2013, provided from the European Social Fund, European Regional Development Fund and Cohesion fund, amounts more than 23 billion litas. This equals to an additional annual state budget.

ES structural assistance for Lithuania for the period 2007-2013 will be allocated in accordance with National general strategy: the Lithuanian Strategy for the use of European Union Structural Assistance for 2007-2013 (approved the European Commission on the 26 th of April, 2007) and with operational programs for implementation of this strategy.

Primary purpose of employment of ES structural assistance, according to the strategy, is to rapidly improve conditions to invest, work and live in Lithuania, to support economy so its products would reach all citizens of Lithuania. Operational programmes will support implementation of goals and tasks set in the strategy.

It is estimated that the largest part of funds – 45.72% - will be allocated to Operational programme for the Economical Growth for 2007–2013.  Extremely important is that 10% will be allocated to scientific researches and technological development of competitiveness and growth of economy.

Main objectives of the Operational Programme on Economic Growth for 2007–2013:

1. Increase the share of high value added businesses;
2. Increase business productivity especially by creating favourable environment for innovations and SMEs;
3. Increase efficiency of economic infrastructure.

Main goal of Priority 2 is to increasing business productivity and improving environment for business.

The Priority has the following objectives:

1) increase business productivity;

2) increase viability of businesses and promote entrepreneurship;

3) improve access to financing sources for SMEs;

4) adapt public territories for investment attraction purposes.

Estimated Expenditure Breakdown by Categories (Priority 2:Increasing business productivity and improving environment for business)

(Source: Ministry of Finance of the Republic of Lithuania)