Lithuania: EIB Loan 68m to Lithuanian Railways

Image courtesy of EIB

EIB Loan 68m to Lithuanian Railways

The European Investment Bank have loaned Lithuanian railways AB Lietuvos Gele_inkeliai (LitRail) 68million to fund further modernization of rail infrastructure and passenger rolling stock in the country.

The funding is in addition to the support EIB has given to LitRail since 1996, bringing the countrys rolling stock and infrastructure into modernity. This loan will fund the purchase of rolling stock components and the acquisition of seven three-car diesel multiple unit passenger units, replacing now obsolete rolling stock, which will improve efficiency, environmental sustainability, availability and reliability of services.

Routes to be renewed or electrified will be sections of the the Kena Vilnius Kai_iadorys Radvili_kis Klaip_da line. The Klaip_da railway hub will be upgraded and enlarged. Further, the schemes will also address traffic safety and noise abatement measures. The works will reduce bottlenecks and maximise capacity on the line, enabling 1,050m long 6,000t freight trains to run on the routes.

Albertas _im_nas, Deputy Director General of Lithuanian Railways said:

Modernisation of railway infrastructure is one of our top priorities. Our long-lasting cooperation with European Investment Bank contributes to the implementation of a variety of projects that are significant not only for Lithuania, but for the whole of Europe too.

EIB Vice-President Jan Vapaavuori, responsible for operations in the Baltic countries, said:

Lietuvos Gele_inkeliai is a key chain link in the Lithuanian economy and the EIB is glad it can contribute to this important modernisation programme, which will benefit all Lithuanians who use the railways on a daily basis. Sustainable forms of transport have long been an EIB priority and will continue to be so in the coming years.