NIB to finance key infrastructure projects in Vilnius

NIB and the City of Vilnius have signed an agreement providing the city with a new 20-year loan facility totalling EUR 8.5 million for financing a municipal investment programme.

The loan proceedings will be used for financing projects of street reconstruction, upgrading infrastructure for sludge and wastewater treatment, as well as improving energy efficiency in public buildings.

“This loan facility to the capital of one of our member countries will contribute to improving the quality of life and well-being in the city. Another bike path or getting rid of odours from wastewater sludge do much to improve the attractiveness and, henceforth, the competitiveness of the city,” says Henrik Normann, NIB President and CEO.

In particular, the reconstruction of a 1.1-kilometre stretch of the Gelezinio Vilko street will help reduce the traffic congestion problem and improve road safety in one of the key business districts of the Lithuanian capital. The sludge treatment project will help solve the problem of storing wastewater sludge. The utilisation of sludge will produce biogas to fuel a combined heat and power station. The rehabilitation and extension of the Vilnius water supply and sewage treatment infrastructure will connect newly developed residential areas to the municipal water networks. The renovation of schools, clinics and other public buildings will help improve energy efficiency in the city. The total area to be renovated with the new loan is around 65,000 square metres. The project is expected to reduce the total annual use of energy for the buildings by 23 GWh.

NIB is a multilateral financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.

For further information, please contact:

Mr Vilius Girkontas, Senior Manager Origination, at +358 10 618 0240,
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Mr Arild Moen, Senior Communications Specialist, at +358 10 618 0496,
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