EU – Baltic States, Financial Services, Lithuania, Loan
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Thursday, 25.04.2024, 01:11
Vilnius signed EUR 25 mln loan agreement
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"I can assure you that this loan is not because Vilnius
is in a desperate situation, but because we need it to take a bold step. It
is aimed at helping us carry out projects," Vilnius Mayor Remigijus
Simasius said at a news briefing.
He said that part of the money will go toward various
infrastructure projects, such as the construction of kindergartens and
modernization of the capital's lighting and electricity networks.
"We are a bank and a bank wants its money back. (...)
We have made proper due diligence and we are convinced that the money will be
returned," EIB Vice President Jan Vapaavuori said at the news briefing.
Alma Vaitkunskiene, the municipality's director of
administration, said that some 12 mln euros out of the first tranche will be
used to refinance the most costly loans (from the Finance Ministry and SEB
Bankas).
The EIB loan carries an interest rate of 0.38% and the
bank's margin is 0.2%.
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