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Lithuania signs 18.58 mln euro PHARE memo with EU |
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| LITHUANIA: December 17, 2001 | ||
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VILNIUS - Lilthuania's finance ministry said it signed two economic memoranda with the European Union (EU) that would give the Baltic country 18.578 million euros ($16.74 million) in EU PHARE funds through 2004. The ministry said in a statement funds outlined in both memoranda would be distributed to Lithuania on a project-specific basis from 2001 through 2004, the year the Baltic country hopes to join the EU.
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The first memorandum would see the EU contributing 15.58 million litas, some eight million of which would be earmarked for environmental projects and 1.75 million euros for economic restructuring in the towns of Ignalina, Visagina and Zarasai. Those areas are seen absorbing the impact from the gradual shutdown of Lithuania's Ignalina nuclear power plant, the Chernobyl-styled reactor the EU wants closed, on of the key requirements for Lithuania's entry into the 15-member bloc. The EU has pledged more than 200 million euros for the closure of Ignalina's first of two reactors. The second memorandum sees the EU contributing three million euros to Lithuania in a Baltic Sea regional co-operation project. Lithuania would have to cofinance the projects in both memoranda with some 4.9 million euros from its own coffers.
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REUTERS NEWS SERVICE
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