6 Oct 2011

NIB lends for municipal investments in Vilnius

NIB and the city of Vilnius have signed a 20-year-maturity loan totalling EUR 9.6 million earmarked for projects in road infrastructure development, energy efficiency improvements and the renewal of municipal transport fleet.

The financing is being provided for a number of municipal projects. One of them is the construction of a nine-kilometre four-lane bypass connecting Vilnius to the road network in the surrounding region and major international transport corridors. The investment programme also includes the reconstruction of one of the central throughputs critical for the traffic flow in the city, Geležinio Vilko Street. The improvements will help reduce congestion and pollution, as well as increase the capacity and safety of the Vilnius street network.

The programme's energy efficiency investment will help halve energy consumption at 29 schools, as well as the M. Marcinkevičiaus hospital and the Karoliniškiu clinics. Finally, the municipal transport fleet renewal project includes replacing 13 old trolleybuses and 13 diesel driven buses. The old buses will be replaced with 18 compressed natural-gas driven ones.

The Nordic Investment Bank (NIB) is the common international financial institution of the eight Nordic and Baltic countries. NIB provides long-term financing to the energy, environmental, transport, logistics and communications, and innovation sectors for projects that strengthen competitiveness and enhance the environment. 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,

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