Lithuania Agreement with European Investment Bank: A new agreement has been signed between Lithuanian Railways (Lietuvas Gelezinkelia) and the European Investment Bank (EIB). According to the agreement, the European Investment Bank will provide a 68 million Euro loan to be used on Lithuanian railways. Lithuania will use this money in railway construction and train purchase projects.
Lithuania has announced that it will use the credit in two main projects. The first will be the renovation and electrification of Kena, Vilnius, Kaisiadorys, Raduiliskis and Klaipeda.
In his speech, Lithuanian Railways Deputy General Director Albertas Simenas stated that one of the greatest aims and priorities is the modernization of the railway infrastructure. He also added that their agreement with the European Investment Bank is useful not only for Lithuania but also for Europe as a whole.
The second project to be taken from the European Investment Bank will be the renewal and modernization of the 3 diesel train with the 7 car.