NIB helps finance €136m seaport expansion in Lithuania

The Nordic Investment Bank and the Klaipeda State Seaport Authority have signed a €68 million, 19-year credit facility agreement for infrastructure invesments in Lithuania’s largest port.

The facility will finance the resconstruction of several quays in the port of Klaipeda. The refurbishment includes extending quay walls and increasing quay depth to ensure access for larger ships.

The total investment costs amount to €136 million. The refurbishment is scheduled to be completed by the end of 2023. The port’s annual capacity is expected to increase by 19.1 million tonnes or 29% of its current capacity.