EIB proposes financing for Lithuanian airports PPP project

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EIB proposes financing for Lithuanian airports PPP project

The European Investment Bank (EIB) is mulling providing project finance for the Lithuanian airports concession project.

The project to be financed by the EIB comprises a number of investments at Vilnius international airport aimed at providing more efficient air transport infrastructure, ensuring a level of safety that meets international standards and improving environmental performance. The airport, which is located 7 km south of the city, is the largest of Lithuania's four commercial airports by passenger traffic, handling 2.9 million passengers in 2014.

The total project investment is estimated at €70 million. The EIB is mulling providing a €30 million loan to finance the upgrade of the airport.

In Sptember 2015, the Lithuanian government launched the tender process for consultancy services for the concession of the three main Lithuanian international airports, Vilnius, Kaunas and Palanga. The Lithuanian government is seeking development and modernization of the airports together with improvement and expansion of the airports' services and connectivity to all three airports mentioned, ensuring that the required infrastructure stays state-owned.

The three international airports were merged into a single state enterprise called Lithuanian Airports in 2014. According to the Ministry of Transport and Communication, operational efficiency of the airports has increased by 11% since then.

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