Lithuania received funds of a EUR 300 million European Investment Bank loan
On Monday, the funds of a EUR 300 million European Investment Bank (EIB) loan entered the State Treasury. 3.052 % annual fixed interest rates will be paid on this loan, it was granted for 25 years. The loan funds will support investments in long-term competitiveness, job creation and green and digital transformation in financial perspective 2021-2027.
"Lithuania took advantage of the attractive lending conditions provided by the EIB during the period of high interest rates. This loan is another example of our effective cooperation with the EIB, which will give Lithuania an impetus for the implementation of EU-funded projects and the achievement of ambitious goals set in areas such as green and digital transformation," says Minister of Finance Gintarė Skaistė.
The EIB provides long-term loans under favourable conditions that allow increasing the efficiency of co-financing projects in terms of national public finances.
The EUR 300 million loan is the first of the EUR 1 billion EIB commitment to support investments in all regions of Lithuania. This structural programme loan agreed with the EIB is a product specifically for co-financed projects supported by the European Structural and Investment Funds. The total amount of the planned investments in the financial perspective 2021-2027 amounts to EUR 7.7 billion, of which about EUR 6 billion is financed from EU structural funds, while the remaining amount is provided as national co-financing, which also includes the EIB loan.
This is the third EIB structural programme loan to Lithuania. In previous financing periods, this EU bank and Lithuania had concluded two similar agreements in the amounts of EUR 1.1 billion and EUR 1.3 billion.
A share of the EIB loan is relent to municipalities, state and municipal enterprises, public and private limited liability companies, all or part of whose shares are owned by the state or municipality, and public institutions, the founders of which are state or municipal institutions, implementing EU projects. The aforementioned enterprises and companies can use the funds of this loan for the co-financing of EU projects.
Additional information
- The EIB was established in 1958 under the Treaty of the European Economic Community (Treaty of Rome). The bank provides long-term financing for investment projects that would contribute to the implementation of EU policy objectives.
- The bank's shareholders are all EU Member States, and its Board of Governors consists of the finance ministers of these countries. In terms of lending volumes, the EIB is the largest multilateral financial institution in the world.
- Lithuania became a member of the EIB by joining the European Union on 1 May 2004.
- Since 1994, total EIB financing in Lithuania has amounted to EUR 4.6 billion.
Last updated: 20-12-2023
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