European Investment Bank

European Investment Bank (EIB) was established by the Treaty of Rome in 1958 in Luxembourg. The EIB provides long-term loans and guaranties for investment projects.

The priority areas of financing of the ECB are these:

• Support for small and medium-sized enterprises;
• Cohesion and convergence (by supporting disadvantaged regions);
• Fight against climate change and investment in environmental protection;
• Promoting of knowledge economy;
• Competitive and secure energy;
• Development of networks in energy, transport and communications.

The shareholders of the EIB are all EU Member States and its Board of Governors is composed of the Ministers of Finance of these states. Lithuania became a member of the EIB on 1 May 2004.

The EIB has provided financial support for some big infrastructure projects in Lithuania, such as reconstruction of VilniusInternationalAirport, reconstruction of the Port of Klaipėda, building of the Via Baltica highway, modernization of the railway infrastructure etc.

In March 2009 Lithuania signed the agreement with the EIB on the long-term loan of EUR 1, 132 million (LTL 3, 908 million). By this agreement the Government of the Republic of Lithuania has ensured the resources needed to finance the projects under the 2007-2013 EU Structural Assistance Programme.

Lithuania uses this loan to finance the projects in transport, energy, environmental protection, innovations and other areas under the Operational Programmes for the Development of Human Resources, Economic Growth and Promotion of Cohesion for 2007-2013. The funds of the loan were also used to support 6 big projects on water supply and wastewater treatment, which were financed from the 2004-2006 Cohesion Fund assistance.

A part of the EIB loan is also on-lent to the municipalities that implement EU projects, state and municipal enterprises, public limited and private limited companies that are owned or co-owned by the State or municipality. 43 municipalities and 33 companies have already used this opportunity.