At a meeting with the EIB President, K. Vaitiekūnas: ILTE and EIB should act as strategic partners
At a meeting held in Luxembourg today, Minister of Finance Kristupas Vaitiekūnas and President of the European Investment Bank (EIB) Nadia Calviño discussed the progress of the implementation of joint defence projects and directions for further cooperation, aiming to more actively involve the national development bank ILTE in the financing of strategic projects.
During the meeting, the Minister thanked the EIB President for the bank’s extremely significant cooperation in investing in key sectors – environment, infrastructure, innovation and, of course, defence. Since 1994, when the EIB began operating in Lithuania, the bank has already invested more than EUR 5 billion. Last year alone, one billion euros were allocated to defence projects.
“We are grateful to the EIB for its comprehensive assistance in developing the Rūdninkai military base project and expect the same support in implementing Kairiai and other defence projects. This strengthens the security not only of Lithuania, but of Europe as a whole,” Minister of Finance Kristupas Vaitiekūnas stressed.
According to the Minister, large and long-term investments in defence (more than 5 % of GDP) inevitably limit the state's fiscal space for other strategic areas, therefore Lithuania seeks to have the national development bank ILTE operate not alongside, but together with the EIB Group, moving from individual projects to a systemic co-financing model that includes joint projects, including public-private partnerships.
"Lithuania faces constant security threats that require resilient financing decisions in line with geopolitical reality. In this regard, Lithuania sees the importance of the ILTE's strategic partnership with the European Investment Bank Group," K. Vaitiekūnas stated.
The Minister of Finance invited the EIB experts to contribute to the activities of the ILTE Advisory Hub, recently established by the ILTE, which helps public and private sector entities develop high-quality, financially sustainable projects. The possibilities of involving the ILTE more actively in Lithuanian projects developed jointly with the EIB were also discussed.
“Such an approach would allow for more effective mobilisation of capital, risk sharing and faster implementation of strategic projects in Lithuania, thus strengthening the economic resilience of not only Lithuania, but also the entire region,” K. Vaitiekūnas noted.
Further support for Ukraine, the possibilities of the Lithuanian defence industry and preparations for the Lithuanian Presidency of the Council of the EU in the first half of 2027 were also discussed at the meeting.
Last updated: 13-01-2026
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