NIB finances construction of nine new educational buildings in Vilnius, Lithuania

• NIB has signed an EUR 84 million loan agreement with UAB Vilnius Education Infrastructure to finance the construction and operation of nine new educational buildings in Vilnius, Lithuania.
• The project will deliver five kindergartens and four schools in districts where educational facilities are most scarce.
• The new buildings will provide modern, innovative learning environments, including spaces adapted for children with special needs.

NIB has signed an EUR 84 million loan agreement with UAB Vilnius Education Infrastructure to finance the construction and operation of nine new educational buildings in Vilnius, Lithuania. A matching EUR 84 million will be provided by the European Investment Bank (EIB).

UAB Vilnius Education Infrastructure is a subsidiary of Vilnius Development Company (Vilniaus vystymo kompanija), and is responsible for implementing and financing the project, including the construction of new facilities.

The project will deliver five kindergartens and four schools in districts where educational facilities are most scarce. Many existing institutions in Vilnius are overcrowded, limiting access and affecting learning conditions and teaching quality. The new buildings will ease pressure on the system, improve accessibility, and provide modern, innovative learning environments, including spaces adapted for children with special needs and disabilities.

“This is the first project of this type and scale not only in Lithuania but in the entire region, where a municipally owned company independently borrows funds and finances the construction of educational institutions. Vilnius Development Company will build the schools and kindergartens over three years and then manage and maintain them for the next twenty years. We are confident that this long-term financing model is sustainable and will deliver lasting benefits to the city,” said Laura Joffė, CEO of Vilnius Development Company.

“As cities grow, access to high-quality public infrastructure becomes increasingly important. This investment will ensure that children in Vilnius can learn in modern, accessible environments that meet today’s educational standards, while helping the city respond to rapid demographic change and bringing schools closer to where families live,” said André Küüsvek, President and CEO of NIB.

Once completed, the facilities are expected to serve approximately 4,290 students – around 3.5% of all children in Vilnius – providing 2,004 general education, 1,710 primary school, and 576 preschool education places from 2028 onwards. All buildings will meet A++ energy efficiency and other sustainability standards. After school hours, pools, gyms, and other facilities will be available for use by local communities.

Vilnius, with a population of roughly 634,000 at the start of 2024, has seen steady growth in the number of children aged 0–17 over the past five years. However, the availability of preschool and school places has not kept pace with demand. Districts such as Pilaitė, Pašilaičiai, and Verkiai have experienced especially rapid population growth, resulting in long waiting lists for preschool places.

By increasing access to public education closer to where families live, the project is expected to shorten daily travel times, reduce costs, and ease reliance on private schools, reducing financial pressure on households.

NIB is the international financial institution of Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway, and Sweden. The Bank finances projects that improve productivity and benefit the environment of the Nordic-Baltic region. The Bank is headquartered in Helsinki with a regional hub in Riga. NIB has the highest possible credit rating, AAA/Aaa, with S&P Global Ratings and Moody’s.

For further information, please contact

Tuomas Suurpää, Senior Banker, +358 10 618 0376, Tuomas.Suurpaa@nib.int

Elīna Neimane, Senior Communications Officer, +358 10 618 0871, Elina.Neimane@nib.int