Lithuania backs concessions law

Lithuania’s Cabinet of Ministers has given its approval to a new law that will create a new framework for the award of concessions in the country.

Among the changes that the new legal framework will bring in are an uncapped maximum contract term and the potential for more types of public entities to enter into concession agreements, plus increased flexibility in the transfer of public assets by concessionaires.

“Increased consistency in regulation across the market of the European Union will provide an even more secure and transparent path for new international investors seeking to set foot in Lithuania,” said Tadas Jagminas, director of the project management department at Invest Lithuania.

In September, the European Investment Bank backed funding for a highway PPP scheme in Lithuania.