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On Thursday, 23 April, the Board of Directors of the Nordic Investment Bank (NIB) confirmed that the bank will issue a loan of EUR 100 million to Lithuania to finance its Public Sector Energy Efficiency and Housing Renovation programmes. According to the Ministry of Finance, the deal will be inked in the nearest future.
Nordic Investment Bank to provide long-term loan to Lithuania for buildings renovation
© DELFI / Mindaugas Ažušilis

Member of the Board of NIB, Lithuanian Deputy Minister of Finance Algimantas Rimkūnas said that in 2015 Lithuania marks its 10th anniversary of membership in NIB. Throughout the period NIB helped implement numerous public and private investment projects creating long-term value. For example, NIB contributed to financing the Liquefied Natural Gas (LNG) terminal.

EUR 100 million long-term loan will be used to renovate blocks of flats and public buildings, the latter mostly include hospitals, health care institutions and community centres. As a result, energy efficiency will be ensured, thus conserving environment and saving funds.

Lithuania has been member of NIB since 2005. In this time NIB has granted Lithuania's public and private sectors loans totalling EUR 572.5 million. The loans were aimed at financing infrastructure, energy efficiency, environmental and other projects. The loan to AB Klaipėdos Nafta for the construction of the LNG terminal amounted to EUR 34.75 million.

NIB is an international financial institution founded in 1975 by Sweden, Finland, Denmark, Norway and Iceland. Currently 8 countries are shareholders of the bank. The bank's main goal is provision of long-term loans and guarantees for projects promoting competitiveness and conserving environment.

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