NIB signs new loan with city of Vilnius

New access to Vilnius airport. Photo: Kauno tiltai AB.

A new EUR 16.8 million loan agreement for 15 years has been signed between NIB and the city of Vilnius. The loan facility will finance the Lithuanian capital’s municipal investments in infrastructure and energy efficiency projects.

The investment programme involves several road infrastructure projects that will help manage the flow of traffic in the busiest areas of Vilnius. The construction of a bypass west of the city centre will further connect Vilnius to major transport corridors and significantly reduce the flow of transit traffic through the city. The reconstruction of the most intensive high-speed street in Vilnius, Gelezinio vilko gatve, is aimed at reducing congestion and increasing road safety in the area.

The municipality also built a two-level intersection in order to improve access to Vilnius Airport. Up until now, the airport could only be accessed by one road from the city centre, which used to cause frequent traffic jams. The project aimed to redistribute the flow of traffic and reduce travel time.

NIB-financed energy efficiency projects include the renovation of schools, clinics and other public buildings. It is expected that the renovated buildings will use 40% less energy.

Since 2009, the Bank has provided four loans totalling EUR 58.1 million intended for developing municipal infrastructure, road building and energy efficiency projects in Vilnius.

NIB is an international 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
Vilius Girkontas, Senior Manager Origination, at +358 10 618 0240,

Arild Moen, Senior Communications Officer, at +358 10 618 0496,