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Signature(s)

Amount
€ 100,000,000
Countries
Sector(s)
Lithuania : € 100,000,000
Transport : € 100,000,000
Signature date(s)
19/04/2024 : € 100,000,000
Link to source

Summary sheet

Release date
29 September 2023
Status
Reference
Signed | 19/04/2024
20210509
Project name
Promoter - financial intermediary
LITHUANIAN PASSENGER ROLLING STOCK
UAB LTG LINK
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 124 million
EUR 248 million
Location
Sector(s)
Description
Objectives

The project involves the purchasing of 15 new electric rolling stock units (9 electric multiply units and 6 battery-electric multiply units) for passenger services in Lithuania.

The project is expected to increase the quality of rail services provided in Lithuania as well as promote travel by rail, reducing the use of private vehicles and the associated negative impacts on the local environment, road safety and GHG emissions and, thereby, contribute to the sustainable transport in line with EU objectives. The project is largely located in a convergence zone and by facilitating access promotes regional development.

Additionality and Impact

The project consists of the acquisition of electric multiple units and battery electric multiple units to be used under public service contract throughout Lithuania. The project is expected to generate economic and social benefits, improving safety, comfort and better access for persons with reduced mobility. The shift of passenger traffic to rail addresses market failures by reducing a number of transport externalities, such the harm to humans in terms of accidents and loss of life, or environmental externalities like noise, pollution and CO2 emissions. The EIB financing, structured along the lines of the best banking practice, will provide the Borrower with flexible conditions and will allow to attract other financiers to the Project. The Borrower will be able to diversify its funding sources and accelerate the full financing and implementation of the Project.

Environmental aspects
Procurement

The investments proposed under the project do not fall under either Annex I or Annex II of the Environmental Impact Assessment Directive (EIA) 2011/92/EU as amended by Directive 2014/52/EU as manufacturing and use of rail rolling stock is not included in either list. The need of EIA and/or assessment according to the Habitats Directive for associated facilities (e.g. maintenance workshops or depots) will be analysed during the appraisal. All else equal, the project is expected to have a positive environmental impact by helping the railways to maintain modal share in key sections of the passenger market that are most appropriately met by rail. In addition, the arrangements for the scrapping of the replaced stock will be checked during appraisal.

The EIB will require UAB LTG Link to make sure contracts for the implementation of the project have been tendered according to the relevant applicable EU procurement legislation (Directive 2014/25/EU and Directive 92/13/EEC) as interpreted by the EU Court of Justice, to be published in the EU Official Journal, as and where required.

Milestone
Under appraisal
Approved
Signed
30 November 2023
19 April 2024
Link to source
Other links

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

Documents

Environmental and Social Data Sheet (ESDS) - LITHUANIAN PASSENGER ROLLING STOCK
Publication Date
6 Dec 2023
Document language
Main Topic
Lending
Document Number
176809775
Document Focus
Environmental Information
Project Number
20210509
Sector(s)
Regions
Countries
Publicly available
Download now

General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

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Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

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Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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