Latest news with #Lithuania
Zawya
4 hours ago
- Business
- Zawya
EU to lift EIB lending limit to $115bln in defence push
LONDON/BRUSSELS - EU governments have agreed to lift the annual spending of the bloc's powerful European Investment Bank (EIB) lending arm to 100 billion euros ($115 billion) this year and treble its funding for the EU's defence industry. Sources briefed on the plans said the decision was approved at an EIB board meeting in Luxembourg ahead of a formal sign-off expected by EU finance ministers later on Friday. They spoke on condition of anonymity because the information was not yet public. The new 100 billion euro annual spending ceiling is more than 10 billion euros above the amount the EIB lent last year and 5 billion higher than 95 billion euros the bank's President Nadia Calvino set as a target at the start of the year. It will also allow it to more than treble its funding for defence-related projects. The amount will go up 3.5 billion euros from 1 billion euros last year and be well above the 2 billion euros it had flagged would be spent back in January, the sources said. The EIB is prohibited from investing directly in weapons or ammunition but it can lend for so-called "dual use" purposes, such as GPS systems or buildings and infrastructure for army bases. It has signed off on funding for one such base in Lithuania near the border with Belarus where German troops are due to be permanently deployed on foreign soil for the first time since the Nazi military in World War II. European nations are scrambling to ramp up their defence spending amid pressure from U.S. President Donald Trump who has signalled plans to reduce the decades-long U.S. security backstop for the continent. It also comes just days before a NATO summit in The Hague where the alliance's members are under pressure to raise their defence commitments. The increased EIB lending is set to funnel money into other areas as well, the sources said, including technology innovation and renewable energy. It follows a mid-year review of its operational plan and comes after it got approval last year to raise its so-called gearing ratio, which sets out a nominal maximum for the amount of loans on its balance sheet as a percentage of its subscribed capital. EU officials said the bank, already the biggest multilateral lender in the world, is also likely to announce plans to pump 70 billion euros into the development of European technology firms over the next three years. The programme, called Tech EU, aims to help Europe better compete with China and the United States in the race for cutting-edge tech like supercomputing, robotics and artificial intelligence as well as renewable energy. The 70 billion euros funding is to be split into 20 billion euros for equity and quasi-equity, 40 billion euros for loans and 10 billion for guarantees in 2025-2027, the officials said. They hope the money to mobilise a further 250 billion euros of private investor funding and complement broader European Commission efforts to support startups and higher risk ventures. ($1 = 0.8727 euros)
Reuters
5 hours ago
- Business
- Reuters
EU to lift EIB lending limit to 100 billion euros in defence push, sources say
LONDON/BRUSSELS, June 20 (Reuters) - EU governments have agreed to lift the annual spending of the bloc's powerful European Investment Bank (EIB) lending arm to 100 billion euros ($115 billion) this year and treble its funding for the EU's defence industry, said sources briefed on the plans. The sources said the decision was approved at an EIB board meeting in Luxembourg ahead of a formal sign off expected by EU finance ministers later on Friday. They spoke on condition of anonymity because the information was not yet public. The new 100 billion euro annual spending ceiling is more than 10 billion euros above the amount the EIB lent last year and 5 billion higher than 95 billion euros the bank's President Nadia Calvino set as a target at the start of the year. It will also allow it to more than treble its funding for defence-related projects. The amount will go up 3.5 billion euros from 1 billion euros last year and be well above the 2 billion euros it had flagged would be spent back in January, the sources said. The EIB is prohibited from investing directly in weapons or ammunition but it can lend for so-called "dual use" purposes, such as GPS systems or buildings and infrastructure for army bases. It has signed off on funding for one such base in Lithuania near the border with Belarus where German troops are due to be permanently deployed on foreign soil for the first time since the Nazi military in World War II. European nations are scrambling to ramp up their defence spending amid ongoing pressure from U.S. President Donald Trump who has signalled plans to reduce the decades-long U.S. security backstop for the continent. It also comes just days before a NATO summit in The Hague where the alliance's members are under pressure to raise their defence commitments. The increased EIB lending is set to funnel money into other areas as well, the sources said, including technology innovation and renewable energy. It follows a mid-year review of its operational plan and comes after it got approval last year to raise its so-called gearing ratio, which sets out a nominal maximum for the amount of loans on its balance sheet as a percentage of its subscribed capital. ($1 = 0.8727 euros)
Associated Press
20 hours ago
- Politics
- Associated Press
A wild bear enters Lithuania's capital. Hunters refuse a government request to shoot the animal
WARSAW, Poland (AP) — A young female bear caused a stir after wandering out of the forest and into the leafy suburbs of the Lithuanian capital. For two days, the brown bear ambled through the neighborhoods of Vilnius, trotted across highways and explored backyards — all while being chased by onlookers with smartphones and, eventually, drones. The government then issued a permit for the bear to be shot and killed. That did not go down well with Lithuania's hunters who refused, aware that there is only a tiny number of the protected species in the entire country. The Lithuanian Association of Hunters and Fishermen said it was shocked by the government order. The association's administrator, Ramutė Juknytė, told The Associated Press on Wednesday that the bear was a beautiful young female who was about 2 years old and did not deserve to be shot. 'She was scared but not aggressive. She just didn't know how to escape the city but she didn't do anything bad,' he said. The organization tracks the movements of bears. It believes there is only five to 10 bears in the Baltic nation, but does not have a precise number. The drama began on Saturday when the bear entered the capital. It was the first time in many years that a bear had entered the city and it became a national story. The animal came within about 4-5 kilometers (about 2-3 miles) of the city center. Since causing a stir with their permit to kill the bear, Lithuanian authorities have been on the defensive. Deputy Environment Minister Ramūnas Krugelis said that a kill permit was issued purely as a precaution in case the bear posed a threat, according to a report by the Lithuanian broadcaster LRT. The hunters proposed a more humane approach: sedation, tracking and relocation. As the debate over the bear's fate unfolded, she took matters into her own paws and wandered out of the city. Juknytė said that the bear was recorded by a camera on Wednesday, peacefully wandering through a forest some 60 kilometers (40 miles) from Vilnius while munching on corn. Brown bears are native to the region and were once common. They were wiped out in Lithuania in the 19th century due to hunting and habitat loss. In recent years they have started reappearing in small numbers, typically wandering in from neighboring countries like Latvia and Belarus, where small bear populations still exist. Bears are protected under Lithuanian and EU law as they are considered a rare and vulnerable species in the region.
CTV News
a day ago
- Politics
- CTV News
Lithuanian hunters refuse a government request to shoot a wild bear in the capital
A bear is recorded by a hunters' camera in the Pabrade forests calmly feasting on animal baits in Pabrade, Lithuania, Wednesday, June 18, 2025. (Paulius Peciulis via AP) WARSAW, Poland — A young female bear caused a stir after wandering out of the forest and into the leafy suburbs of the Lithuanian capital. For two days, the brown bear ambled through the neighborhoods of Vilnius, trotted across highways and explored backyards — all while being chased by onlookers with smartphones and, eventually, drones. The government then issued a permit for the bear to be shot and killed. That did not go down well with Lithuania's hunters who, aware that there is only a tiny number of the protected species in the entire country, refused. The Lithuanian Association of Hunters and Fishermen said it was shocked by the government order. The association's administrator, Ramutė Juknytė, told The Associated Press on Wednesday that the bear was a beautiful young female who was about 2 years old and did not deserve to be shot. 'She was scared but not aggressive. She just didn't know how to escape the city but she didn't do anything bad,' he said. The organization tracks the movements of bears. It believes there is only five to 10 bears in the Baltic nation, but does not have a precise number. The drama began on Saturday when the bear entered the capital. It was the first time in many years that a bear had entered the city and it became a national story. The animal came within about 4-5 kilometres (about 2-3 miles) of the city center. Since causing a stir with their permit to kill the bear, Lithuanian authorities have been on the defensive. Deputy Environment Minister Ramūnas Krugelis said that a kill permit was issued purely as a precaution in case the bear posed a threat, according to a report by the Lithuanian broadcaster LRT. The hunters proposed a more humane approach: sedation, tracking and relocation. As the debate over the bear's fate unfolded, she took matters into her own paws and wandered out of the city. Juknytė said that the bear was recorded by a camera on Wednesday, peacefully wandering through a forest some 60 kilometres (40 miles) from Vilnius while munching on corn. Brown bears are native to the region and were once common. They were wiped out in Lithuania in the 19th century due to hunting and habitat loss. In recent years they have started reappearing in small numbers, typically wandering in from neighboring countries like Latvia and Belarus, where small bear populations still exist. Bears are protected under Lithuanian and EU law as they are considered a rare and vulnerable species in the region. Article by Vanessa Gera.
The Guardian
a day ago
- Politics
- The Guardian
Lithuanian hunters refuse to kill bear that ambled around capital for two days
A young female bear caused a stir after wandering out of the forest and into the leafy suburbs of the Lithuanian capital. For two days, the brown bear ambled through the neighbourhoods of Vilnius, trotted across highways and explored backyards – all while being chased by onlookers with smartphones and, eventually, drones. The government then issued a permit for the bear to be shot and killed. That did not go down well with Lithuania's hunters who, aware that there were only a tiny number of the protected species in the entire country, refused. The Lithuanian association of hunters and fishermen said it was shocked by the government's approach. The association's administrator, Ramutė Juknytė, said the bear was a beautiful young female who was about two years old and did not deserve to be shot. 'She was scared but not aggressive. She just didn't know how to escape the city but she didn't do anything bad,' he said. The organisation tracks the movements of bears. It believes there are only five to 10 bears in the Baltic nation, but does not have a precise number. The drama began on Saturday when the bear entered the capital. It was the first time in many years that a bear had entered the city and it became a national story. The animal came within about 4 to 5km (about 2-3 miles) of the city centre. Since causing a stir with their permit to kill the bear, Lithuanian authorities have been on the defensive. Deputy environment minister Ramūnas Krugelis said that the kill permit had been issued purely as a precaution in case the bear posed a threat, according to a report by the Lithuanian broadcaster LRT. The hunters proposed a more humane approach: sedation, tracking and relocation. As the debate over the bear's fate unfolded, she took matters into her own paws and wandered out of the city. Juknytė said the bear was recorded by camera on Wednesday, peacefully wandering through a forest about 60km (40 miles) from Vilnius while munching on corn. Brown bears are native to the region and were once common. They were wiped out in Lithuania in the 19th century due to hunting and habitat loss. In recent years they have started reappearing in small numbers, typically wandering in from neighbouring countries such as Latvia and Belarus , where small bear populations still exist. Bears are protected under Lithuanian and EU law as they are considered a rare and vulnerable species in the region.
