14 Dec 2015

NIB provides new loan to Lithuanian Railways

Photo: AB Lietuvos gelezinkeliai

NIB and the Lithuanian railway company AB Lietuvos gelezinkeliai have signed a new 15-year, EUR 50 million loan agreement for the modernisation of the Trans-European corridors in Lithuania.

The funds will be used for the further development of a European-gauge (1,435 mm) railway line from the Lithuanian–Polish border to the city of Kaunas and the construction of a new European-gauge line from Kaunas to the Lithuanian–Latvian border. The company will also electrify a stretch from the capital Vilnius to the Lithuanian–Belarusian border, Vilnius bypass and a stretch from Kaisiadorys to Radviliskis, construct the second track on several stretches and perform other infrastructural improvements with the aim to increase the capacity of the east-west corridor

AB Lietuvos gelezinkeliai’s investment in the modernisation of this railway infrastructure is being co-financed from EU funds. This is already the fifth loan for the purposes of this investment programme. The previous loans, signed since 2009, totalled EUR 216 million.

AB Lietuvos gelezinkeliai (Lithuanian Railways) is a state-owned company that administers the public railway infrastructure and provides freight and passenger transportation services. Lithuania’s total railway network measures 1,767 kilometres. The main commodities transported on rail through Lithuania are oil and petroleum products as well as mineral fertilisers.

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
Ms Tarja Kylänpää, Senior Director, Origination, at +358 10 618 0237,

Mr Dimitrijs Alehins, Senior Communications Specialist, at +358 10 618 0296,