Photo: Image source: portofklaipeda.lt

NIB Finances Klaipeda Port Expansion Project

Nordic Investment Bank (NIB) and the Klaipeda State Seaport Authority (KSSA) have signed a 19-year credit facility agreement for infrastructure investments in Lithuania’s largest port.

According to their official announcement, NIB’s credit facility of EUR 68 million will finance the reconstruction of several quays at the Port of Klaipėda.

The project includes extension of the quay walls section and increase of the current quay depth, ensuring access for larger ships.

Commenting the latest news, Henrik Normann, NIB President & CEO, said: “Ensuring seaport operational efficiency is vital for the Lithuanian economy. Investments in infrastructure modernization will support the port’s growth and boost productivity in our member country.”

The total investment costs amount to EUR 136 million. The development operations are scheduled to be completed by the end of 2023.

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