Prime Minister‘s meeting with President of the European Investment Bank

28 November 2013, Last updated at, 17:33 EEST
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Hoer Werner and Algirdas Butkevičius | author: I. Juodytė (BFL)

Prime Minister Algirdas Butkevičius met with Hoer Werner, President of the European Investment Bank (EIB). The Prime Minister welcomed the EIB Head on his visit to Vilnius, which has temporarily turned in to EU political centre, as Vilnius happens to host one of the most important Lithuanian Presidency events: the Eastern Partnership Forum.

The Head of Government welcomed the successful cooperation with the EIB, and expressed hope for it to continue in the future. Prime Minister A. Butkevičius thanked for the loan granted by the Bank for the construction of the liquefied natural gas terminal and encouraged further contribution in other energy projects in Lithuania.

According to the Prime Minister, the EIB’s contribution would be very much welcome in projects enhancing energy security and diversification of energy sources, as well as renewable energy and energy efficiency (e. g. renovation) projects.

The Head of Government and the President of the Bank discussed Lithuania's borrowing intentions for co-funding of projects financed from the EU structural funds earmarked at the EU’s new financial framework for 2014-2020. At the preliminary data, the overall borrowing needs for the period 2014-2020 could be around 1 billion euros.

The European Investment Bank was established in 1958 by the Treaty of Rome as a long-term lending bank of the EU. It is owned by the EU Member States, which build bank's capital in accordance with the principle that each country's contribution reflects its economic weight in the EU.

In 1994-2012, the EIB has provided loans to Lithuania amounting to 1.7 billion euros. EIB funded major infrastructure projects such as the reconstruction of the airport in Vilnius, reconstruction of Klaipėda Seaport, Via Baltica highway construction, modernisation of railway infrastructure and other projects.

 

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