Financial diplomacy visit to Helsinki – ILTE Cooperation Agreement with the NIB and defence strengthening issues
Minister of Finance Kristupas Vaitiekūnas is visiting Helsinki today, where he with Nordic Investment Bank President André Küüsvek will sign a memorandum of cooperation on the participation of a NIB expert in the ILTE Risk Management Committee. The meeting with Minister of Economic Affairs of Finland Sakari Puisto will focus on the Baltic capital market development opportunities, the prospects of the Savings and Investments Union (SIU) and the challenges of defence financing.
During the meeting with Minister of Economic Affairs of Finland Sakari Puisto, K. Vaitiekūnas is going to discuss further assistance to Ukraine, which is suffering from Russian aggression.
“We are continuing our active financial diplomacy efforts to further strengthen the strategic management of the National Development Bank ILTE with international experience. At the same time, we address other issues relevant to Lithuania – we are looking for new opportunities for defence financing, capital market development in the Baltic States and, of course, we are discussing further assistance to Ukraine”, K. Vaitiekūnas named the objectives of the visit.
Other meetings will focus on strengthening the National Development Bank ILTE and defence spending. The possibilities for closer cooperation with ILTE will be discussed with Juuso Heinilä, Chief Executive Officer of Finnvera, the Finnish Business Finance and Export Credit Agency, and a memorandum of cooperation will be signed with André Küüsvek, President of the Nordic Investment Bank, which will ensure the participation of a NIB expert in the ILTE Risk Management Committee.
The Minister with the President of the NIB will also discuss further cooperation, including the financing of defence projects. Moreover, the Minister will invite the President of the NIB to discuss this topic in more detail at an international conference on strengthening the resilience of the EU's eastern border to be held in Vilnius on 24 April this year.
In May 2025, NIB already granted EUR 400 million credit to Lithuania to finance national defence investments in 2025-2027 and to cover budgetary expenditure related to dual-use (civilian and military) infrastructure development, which increases Lithuania's defence capabilities.
Last updated: 24-02-2026
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