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NIB Board of Directors has approved the loan to Lithuania

Date

2015 04 23

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Vilnius, 23 April 2015. Board of Directors of Nordic Investment Bank (NIB) approved the EUR 100 million long-term loan to Lithuania during its meeting in Vilnius today. The loan is aimed at improving energy efficiency in public and residential buildings, the loan agreement will be signed in the nearest future.

„This year counts a decade of Lithuania’s membership in Nordic Investment Bank. During that period the Bank has helped to implement the investment projects of great importance and lasting value for the country. One of such examples is the Bank’s recent contribution to the investments in liquefied natural gas terminal. 100 million euros loan will be used to ensure the energy efficiency of apartment and public buildings thus having positive impact on the environment and saving money”, - Algimantas Rimkūnas, Vice-Minister of Finance and member of NIB Board of Directors from Lithuania commented.

The long-term loan will be used to finance the renovation of apartment buildings and public buildings, mainly hospitals, health and community centres.

Lithuania is the member of NIB from 2005. The Bank has granted about EUR 572.5 million for the public and private sectors of Lithuania to fund projects related to infrastructure, energy saving and environmental protection, including almost EUR 35 million loan to "Klaipėdos nafta" for investments in liquefied natural gas terminal.

Additional information

The Nordic Investment Bank is the common international financial institution of the eight Nordic and Baltic countries, established in 1975. The Bank provides long-term financing to the energy, environmental, transport, logistics and communications, and innovation sectors for projects that strengthen competitiveness and save the environment.

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