Supporting green maritime transport: €65 million EIB backing for Port of Klaipėda

2023/01/02 at 1:35 PM

The European Investment Bank (EIB) and Klaipėda State Seaport Authority have signed a €65 million loan agreement for the development of Klaipėda seaport in Lithuania. Klaipėda is the main port connection in Lithuania, part of the TEN-T North Sea-Baltic corridor, and one of the largest port complexes in the Baltic Sea.

The key purpose of the project is for the seaport to be able to accommodate larger vessels and therefore lead to greater productivity. The transport hub will be for a variety of goods and cargo. As part of the EIB’s new transport lending policy, decarbonisation of ports as well as climate action and environmental sustainability are priorities for the EIB.

“The financing agreement that we signed today will enable us to continue implementing our ambitious vision of a modern and sustainable port, providing the highest quality services. We aim to welcome the biggest ships that can enter the Baltic Sea. Proper infrastructure — port depth, modern quay walls, a convenient port railway network — are a prerequisite for making this vision a reality. We are very happy that the Port Authority is capable of consistently borrowing on good terms, and that this contract with the EIB is no exception,” said Algis Latakas, Director General of Klaipėda State Seaport Authority.

The EIB loan will complement financing from EU grants (€77 million) and the Nordic Investment Bank (€68 million loan signed at the beginning of 2020, a portion of which will co-finance the EIB project).  

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