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.
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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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