The Lithuanian Environmental Investment Fund (LEIF)

Country / jurisdiction: Lithuania · Year: 1996 · Status: In force · Level: National · Type: Voluntary

The establishment of the Lithuanian Environmental Investment Fund (LEIF) was foreseen in the Strategy for Environmental Protection of Lithuania that was adopted in 1996. Changed Statute of the Fund was approved in 2010.

The main goal of the LEIF is to support public and private sectors in realization of environmental projects and projects to reduce the negative impact of economic activities on environment in compliance with the Environmental Strategy of the Republic of Lithuania. Renewable energy technologies are eligible to benefit from the LEIF support.

Budget of the LEIF is mainly supported by the revenues gathered via pollution tax (around 30% of the total annual budget).

The Fund supports investment projects in the form of soft loans and subsidies.

LEIF grants per applicant can not exceed more than LTL 690 000 over a period of three years.

Fund can provide subsidy max. up to 80% of the investment costs of each project.

Subsidy is paid in two lumps of money. Firstly, 60% of the subsidy is paid to the applicant after purchase of the equipment, etc. The remaining 40% of the support is being paid to the beneficiary after a period of one year since the fist transfer.

Official source: http://www3.lrs.lt/pls/inter3/dokpaieska.showdoc_l?p_id=396792