(MENAFN- Trend News Agency) BAKU, Azerbaijan, August 6. The Ministry of the Economy and Innovation of Lithuania has thrown its hat in the ring with a 60 million euro funding call, inviting large industrial companies to roll up their sleeves and invest in sustainable economic activities in the Kaunas region, Trend reports.

The initiative supports both environmentally friendly production investments and the development of workforce skills directly related to these projects.

“Our goal is to strengthen Lithuania's regions in a targeted way and boost local investment. This focused support for the Kaunas region will not only encourage industrial players to adopt sustainable economic practices but also help create well-paid jobs and increase the region's competitiveness,” said Acting Minister of the Economy and Innovation Lukas Savickas.

Permissible undertakings within this solicitation encompass capital allocations towards eco-friendly production methodologies and skill enhancement initiatives for personnel in newly established roles resultant from the initiative. The upper limit of allocable financial resources stands at 20 million euros per initiative aimed at sustainable investments, with a cap of 500,000 euros designated for human capital development programs.

Capital allocation is strategically targeted towards substantial industrial entities functioning within the confines of Kaunas County-an area currently navigating the paradigm shift towards a climate-neutral economic framework. The initiative aims to alleviate adverse ramifications on local enterprises stemming from this transition.

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