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On Thursday, 8 October, Lithuania received the first part of a loan from the European Investment Bank (EIB), EUR 300 million. Lithuania will pay 1.51 percent annual interest which has been fixed for the duration of the loan, i.e., 25 years.
Lithuania receives first installment of EIB loan
© Scanpix

In May Lithuania and the EIB signed an agreement over EUR 1.3 billion loan in order to secure co-financing for the 2014-2020 European Union (EU) fund investment programmes and 2014-2020 Rural Development programme.

Lithuania will use the funds to co-finance 2014-2020 EU projects in the areas of small and medium-sized enterprises, energy, environmental protection, climate change, transport and networks infrastructure, employment, social security, education, public administration, technical assistance and rural development.

Furthermore, a part of the EIB loan will be on-lent to municipalities, state and municipal companies, limited and limited liability companies that are fully or partially owned by the state or a municipality and are implementing EU projects. The aforementioned companies will be able to use the funds to co-finance EU projects.

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