European Investment Bank opens regional bureau in Vilnius

The European Investment Bank (EIB) Group has officially inaugurated its Baltic regional bureau in Vilnius, aiming at supporting Lithuania, Latvia and Estonia in its energy transition, as well as sustaining the three countries' innovative businesses, Lithuania's Ministry of Finance said in a statement on Thursday.

"This is a very significant step for all Baltic states towards a closer cooperation with the EIB. I am delighted that Lithuania will have more financing alternatives in strategic areas that will also contribute to the economic growth of the country," Lithuanian Minister of Finance Vilius Sapoka was quoted as saying in the statement.

He expressed his hope that through the enhanced cooperation with the EIB, Lithuania will further develop innovative financial instruments and implement ambitious projects in green finance, FinTech and other areas.

"The Baltic states may be small in terms of population, but their importance for European unity is big. Moreover, their standing and weight in terms of business, technology and innovation is growing stronger than ever," EIB President Werner Hoyer's remarks were quoted in the statement.

Opening a regional bureau in Vilnius is a "clear signal" that the EIB Group intends to support Lithuania, Latvia and Estonia in the energy transition and in their willingness to develop innovative businesses, he added. The EIB has been working with Lithuania since 1994. Up to now, the EIB has invested 3.31 billion euros in Lithuania, in the sectors of environment, infrastructure, innovations and SMEs (small and medium-sized businesses).