Minister of Finance R. Šadžius discussed the EIB investment issues important to Lithuania with EIB President N. Calviño
Minister of Finance Rimantas Šadžius, who is on an official visit to Luxembourg, met with President of the European Investment Bank (EIB) Nadia Calviño and discussed the possibilities of further increasing the EIB's role in contributing to the EU's strategic priorities of strengthening European security and defence capabilities, contributing to the resilience of the Ukrainian economy and promoting the transition to green economy.
"Europe is currently facing a number of challenges arising from the growing geopolitical fragmentation and its impact on the EU's security and economy. The EIB's role in finding solutions is crucial. We must seek to expand the EIB's investment policy in the area of security and defence. We have to do this in a sensible way while preserving the bank's financial sustainability. With the EIB President, we discussed the possibilities of contributing to the development of Lithuanian defence and security infrastructure, including military campuses and military mobility projects. The importance of the EIB is also crucial in providing financing for projects to rebuild Ukraine's critical infrastructure and strengthen economic resilience. In addition, the EIB is the climate bank of the EU, and the transition to a green economy is essential in the current geopolitical context in order to achieve energy independence", R. Šadžius noted.
At the meeting, the Minister emphasized that Russia's war against Ukraine fundamentally changed the situation in Europe, therefore the EIB must contribute more to the strengthening of Europe's defence capabilities, noting that Lithuania currently has a particularly high need for the EIB investments in the development of military mobility and security infrastructure projects. The EIB should also continue to play an active role in financing reconstruction and resilience-building projects in Ukraine, including the provision of expert assistance, which is important for the country seeking EU membership.
The Minister emphasized that the EIB's investments in renewable energy projects significantly contribute to the sustainable use of energy resources and Lithuania's energy independence. In view of this, the green transformation, including the further financing of multi-apartment building renovation projects, should be one of the priority areas of further cooperation between Lithuania and the EIB.
Since 1994, the EIB has granted loans for EUR 5.37 billion to finance environmental, infrastructure projects, innovation and business in Lithuania.
Lithuania became a member of the EIB in 2004. Currently, Lithuania owns EUR 437.6 million of authorized capital (0.18 %).
Last updated: 07-02-2025
Related news:
Lithuania's economic growth will reach 2.8 % this year but challenges are increasing
Defence bonds issued for EUR 2.1 million during the sixth issue
Scope Ratings maintains Lithuania’s credit rating and outlook
R. Šadžius: “We must strengthen EU defence capabilities and ensure uninterrupted support to Ukraine”