A PYMNTS Company

Commission approves 18M euro grant for Lithuanian ferry terminal

 |  February 22, 2012

The European Commission has approved a €18 million grant from the European Cohesion Fund for a new ferry terminal in Lithuania. The ferry facility will be in Klaipeda, for both passenger and freight services. The Commission determined that the grant complies with EU state aid rules because the ferry terminal is crucial for the development of the region, the functioning of neighboring ferry terminals will not be compromised, and the financing correspondes to an identified funding gap.

Source: EC Press Release


Related content: The Economics of State Aid Control: Some Remarks (Mathias Dewatripont, Université libre de Bruxelles)