CEB approves €125 million to support public investments in Lithuania

The Council of Europe Development Bank (CEB) has approved a €100 million loan to the Lithuanian government to finance the State Investment Programme and a €25 million loan to Kaunas City Municipality.

The financing approved in support of Lithuania’s State Investment Programme will assist with the improvement and modernisation of public infrastructure. It is the third loan approved by the CEB in favour of state investment programmes since Lithuania joined the CEB.

The Governor of the CEB, Mr. Rolf Wenzel, said: “We are delighted to be strengthening our cooperation with Lithuania, with projects that are key to the improvement of public social infrastructure and services in urban and rural areas alike. In line with our mandate and our newly approved Development Strategy, the projects will sustainably and inclusively contribute to the personal development and well-being of its citizens.”

The financing will benefit public and regional entities and municipalities engaged in reconstruction and/or expansion of cultural, health, education (including sports), and public transport facilities and services, in line with “Lithuania 2030” National Strategy. Predicated on the 2030 Agenda and the achievement of the sustainable development goals, the latter is focused on building a “smart society, smart economy, and smart governance.”

The funds provided by the CEB to Kaunas City Municipality will finance municipal infrastructure under the City Development Plan for the period up to 2022, including investments in transport, education, housing and other public infrastructure. The financing adds on a €25 million loan to the Municipality with a similar scope that was approved by the CEB last year and of which more than 60% has already been disbursed. The investments will lead to enhanced municipal services for the 290,000 inhabitants of the City of Kaunas and the 560,000 people living in Kaunas region.

Original source: CEB
Published on 28 January 2020