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The project will co-finance the Republic of Lithuania's state defence budget for 2024-2030.
The aim is to enhance the European Union's security and defence capabilities, contributing to the provision of a public good.
The EIB financing will support implementation of a range of military infrastructure and equipment schemes under a framework loan, by co-financing the state budget defence expenditure. By providing military infrastructure and equipment, the Project enhances security and defence capabilities of Lithuania and the European Union, contributing to the provision of a public good. The Project is aligned with the Bank's Security and Defence Action Plan, and will contribute 100% to Security & Defence objective. It contributes to Economic and Social Cohesion objective at 94%.
The Project will be focused on the development of key capabilities of Lithuanian Armed Forces to ensure adequate deterrence and defence as well as commitments to NATO allies.
Lithuania's State Defence Council agreed that defence funding should amount to 5-6% of the country's GDP from 2026 to 2030 to speed up the planned establishment of a division within the army. The Project will thus enable the Republic of Lithuania to reach its objective of defence spending/GDP.
Infrastructure and equipment dedicated to military has become eligible for EIB financing with the latest Board decision concerning "Strengthening EIB support to EU Security and Defence" (Document 25/049, approved by the Board on 21 March 2025).
The EIB financing on favourable terms, such as long tenors and sizeable amount from one source, paired with flexible drawing conditions, provides diversity in the financing structure and assists with the affordability of the national public investment programmes.
Where and if applicable, and based on a risk-based approach as defined in the EIB Group's environmental and social policy, the requirements of the Environmental Impact Assessment Directive (EIA) 2011/92/EU as amended by Directive 2014/52/EU, Birds Directive 2009/147/EC and Habitats Directive 92/43/EEC will be checked during appraisal.
The Promoter shall ensure that all contracts for implementation of the project will be tendered in accordance with the applicable EU procurement legislation, Directive 2009/81/EC and 2014/24/EU as well as Directive 92/13/EEC or Directive 89/665/EEC as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required.