Minister for Finance: "Increased ILTE capital will also allow the implementation of those important projects that are lacking financing in the market"
Minister for Finance: "Increased ILTE capital will also allow the implementation of those important projects that are lacking financing in the market"
The Ministry of Finance is implementing the strategy of strengthening the National Development BankILTE in a targeted manner, and one of the actions envisaged in the strategy is the increase in the authorised capital. At today's meeting, the Government approved the project registered by the Ministry of Finance, which proposes to increase the authorised capital of ILTE by EUR 412 million over three years.
ILTE's capital is increasing to EUR 800 million. This State investment optimises public resources and will allow the mobilisation of private investors' funds for the further operation of the bank. By capitalization, ILTE becomes the largest development bank in the Baltic region.
The authorised capital of ILTE is increased in stages: EUR 100 million in the first quarter of this year, EUR 112 million in the second quarter, EUR 100 million in the first quarter of 2027, and EUR 100 million in the first quarter of 2028.
“Our goal is for the ILTE to become a fully-fledged national development bank operating in accordance with international best practices. To achieve this goal, we are consistently implementing a comprehensive plan to strengthen the ILTE by amending the necessary legislation and significantly increasing the authorised capital of the ILTE, which will allow to attract at least two billion euros of additional funds from other funders for financially recoverable business, innovation, infrastructure, agriculture and municipal projects that lack financing in the market,” Minister of Finance Kristupas Vaitiekūnas states.
At the same time, mechanisms have been put in place for the effective use of temporary free funds, the management of the ILTE has been strengthened by involving representatives of international financial institutions, and a Letter of Expectations has been drawn up defining the objectives set by the State for the development bank.
Banking supervision, accountability and transparency mechanisms have also been put in place to ensure a clear and reliable framework for ILTE activities.
It is planned that already in 2027 ILTE will be able to independently issue bonds on international markets after receiving the ratings of international credit rating agencies.
The shareholder of ILTE is the State of Lithuania, which owns 100% of the shares of the company, and the rights and obligations of the shareholder are implemented by the Ministry of Finance.
Last updated: 04-02-2026
Related news:
S&P Global Ratings confirmed Lithuania’s credit rating
Defence bonds were distributed for EUR 80.5 million across recent issues