3 Jul 2020
EUR 60 million
Financial institutions and SMEs
NIB and the Lithuanian public transportation company UAB Kauno Autobusai have signed a EUR 17.5 million loan agreement for the company’s vehicle fleet renewal.
The 15-year loan will finance the purchase of 85 new low-floor electric trolleybuses to replace the majority of the currently used old electric vehicles in Kaunas.
The fleet renewal will provide a substantial public service improvement, as the current trolleybuses have limited climate control, high noise levels, and are physically run-down in general. The new trolleybuses will have more efficient traction and modern passenger information and comfort systems, which will contribute to better commuting quality.
The purchase will complete the city’s public transport transformation into entirely low-floor fleet. This will allow easier and faster boarding, thus saving time for the passengers.
“The investment will not only reduce maintenance costs for the company and contribute to improved service, but will also benefit commuters in Kaunas, allowing them to travel more comfortably”, says Henrik Normann, NIB President and CEO.
UAB Kauno Autobusai is a municipally owned public transport provider in Kaunas, Lithuania's second-largest city of around 300,000 inhabitants. The company operates a fleet of 154 trolleybuses and 270 buses, carrying approximately 80 million passengers annually.
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.
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