EU – Baltic States, Financial Services, Lithuania, Loan, Railways, Transport

International Internet Magazine. Baltic States news & analytics Wednesday, 24.04.2024, 11:48

NIB loans EUR 50 mln to Lithuanian Railways

BC, Vilnius, 14.12.2015.Print version
Lithuania’s state-owned railway company Lietuvos Gelezinkeliai (Lithuanian Railways) is borrowing 50 million euros from the Nordic Investment Bank (NIB) for the upgrade of trans-European corridors, reports LETA/BNS.

The new 15-year loan agreement was signed on Monday, the company said in a press release.

 

The loan will be used for further development of the newly-built section of the European-standard gauge railway, Rail Baltica, between Lithuania’s border with Poland and Kaunas as well as for the building of a new section between Kaunas and Lithuania’s border with Latvia.

 

Moreover, the loan will also be used to finance electrification of several railway lines, including the line between Vilnius and Lithuania’s border with Belarus, as well as for other infrastructure works aimed at enhancing the throughput of the East-West Transport Corridor.

 

The new loan is the fifth provided by the NIB to Lietuvos Gelezinkeliai since 2009. Previous loans amount to a total of 216 million euros.





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