Subsidy (Lithuanian Environmental Investment Fund)
The LEIF supports projects aiming to reduce environmental damage in the long term. This definition covers the conversion of heating plants in order to switch from solid fuels to liquid biomass and geothermal resources (Chapter II Item 13.2.3 Statutes of the LEIF as amended on 09.12.2010). Projects are supported in the form of subsidies. Each year, there are two calls, published via the media or on the website of the LEIF. For general information in Lithuanian on the funding of projects by the LEIF please see www.laaif.lt.
The LEIF supports projects for the conversion of heating plants in order to switch from solid fuels to liquid biomass and geothermal resources (Chapter II Item 13.2.3 Statutes of the LEIF as amended on 09.12.2010).
The maximum subsidy is € 200,000 and must not exceed 80% of the total project expenses (Chapter II Item 7 Order No. 437/2003). Applicants shall demonstrate that they are able to provide funding for the rest of the project through their own resources (Chapter II Item 12 Order No. 437/2003). The first part of the awarded subsidy (60%) is paid when the applicant has acquired, installed and started operating facilities as intended in the project plan and the head of LEIF confirmed the report on the project technical implementation. The remaining part of the awarded subsidy (40%) is paid when the applicant has submitted data on the environmental compliance achieved during the first year of the supported project. The remaining part of the subsidy is paid under the condition that during the first project year the environmental indicators set in the grant application are met by at least 95%. If 50% - 95% of environmental indicators are met, the grant shall be reduced accordingly. Finally, if during the first project year less than 50% of environmental indicators are met, environmental compliance is considered as not achieved and the second part of the subsidy will not be paid to the applicant. In this case, the applicant shall pay back the first part of the subsidy (which he has already received) to the LEIF (Chapter II Items 9-11 Order No. 437/2003).
Entitled party: Legal entities registered in Lithuania, or legal entities established in another country within the European Economic Area (EEA) whose subsidiary is registered in Lithuania and carries out projects in Lithuania (Chapter I Item 5 Order No. 437/2003).
The Lithuanian Environmental Investment Fund (LEIF) (Chapter II Item 1 Order No. 437/2003).
Distribution of costs
The LEIF is funded from the state budget and other lawfully acquired funds (Chapter I Item 8 Statutes of the LEIF).