Finance Ministry proposes faster military and civilian infrastructure projects

The Finance Ministry has prepared and submitted to the government a procedure intended to speed up the implementation of infrastructure projects important to national defence and civil protection, LRT reports.

Under the proposed procedure, Turto bankas, which has experience managing real estate and infrastructure projects, would help ministries organise and coordinate complex projects and improve their management.

The ministry said the planned clients would be the Defence Ministry and the Health Ministry.

“This procedure will give institutions more opportunities to smoothly implement military and civilian infrastructure projects important to the state. Turto bankas’ experience in managing real estate and infrastructure projects will help prepare projects more quickly, ensure clearer financing plans and improve project management,” Finance Minister Taurimas Valys was quoted as saying.

Under the procedure, Turto bankas would act as a project partner. Ministries could ask it to participate in the development of a specific important military or civilian infrastructure project.

Institutions would have to provide information about planned activities, project deadlines, financing and the areas in which Turto bankas’ involvement would be needed.

Agreements would specify whether Turto bankas would conduct procurement procedures, organise design and construction work, administer contractor tenders or perform other functions. It would be paid for these services according to the agreement.