Sorainen and Linklaters are advising the Ministry of Finance of Lithuania, the European Commission, and the EBRD on an EC-funded project aimed to promote green investment in Lithuania. The project is funded via the Structural Reform Support Programme in collaboration with the European Commission Structural Reform Support Service.
According to Sorainen, “experts will prepare a country action plan on green finance and a feasibility study on establishing a Green Finance Institute in Lithuania. Lithuania is the first country to launch a project of this kind together with the European Commission and the EBRD.“
The deal follows several other recent EBRD "green" investments in CEE, including a four-year syndicated EUR 40 million loan to JSC State Export-Import Bank of Ukraine to support renewable energy and energy efficiency investments in Ukrainian projects (as reported by CEE Legal Matters on October 30, 2019) and a EUR 35 million loan to a Ukrainian agricultural trading company Louis Dreyfus to reduce carbon emissions (as reported by CEE Legal Matters on November 4, 2019).
Sorainen's team included Partner Tomas Kontautas, Senior Associate Dalia Augaite, and Associate Rimantas Bendorius.