Lithuanian Railways is to borrow €68 million from the European Investment Bank (EIB) to fund a series of infrastructure improvements.
A Lithuanian railroad
© DELFI / Tomas Vinickas

Albertas Šimėnas, the deputy general director of Lithuanian Railways, said that the “modernisation of railway infrastructure is one of our top priorities. Cooperation with the EIB allows implementing projects that are essential both to Lithuania and entire Europe.”

The state railway company and the EIB have been working together since 1996, and this will be the company's fifth loan since then. The total amounts of loans given amounts to more than €244 million, €77.8 million of which have been paid back.

On Friday afternoon, the deal will be signed by Šimėnas and Jan Vapaavouri, the vice president of the EIB.

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