Lithuania's capital Vilnius will deploy up to 160 zero-emission buses and build new charging infrastructure under a €110 million financing package from the European Investment Bank (EIB) and the Council of Europe Development Bank (CEB).
The two lenders are each providing a €55 million loan to Vilniaus Viešasis Transportas (VVT) — the city’s public transport operator — to support the project, which is due to be completed by the end of 2027, the EIB announced on Tuesday.
The funding will help pay for new electric and hydrogen buses, 145 charging stations and upgrades to existing depots, replacing older diesel and liquefied-petroleum-gas vehicles.
Vilnius has more than 600,000 residents and aims to become climate neutral by 2030.
“Together with the Council of Europe Development Bank, we are helping deliver cleaner buses, better public transport and healthier urban environments for hundreds of thousands of people,” EIB Vice-President Karl Nehammer stated.
Four international lenders involved
Other international lenders are also backing public transport renewal in the Lithuanian capital, with the European Bank for Reconstruction and Development (EBRD) and Nordic Investment Bank (NIB) supporting the replacement of the city’s trolleybus fleet, the EIB said.
It added this is the first time four international financial institutions have jointly financed a project in the Baltic region, and described it as one of the first such cases in Europe.
“The modernisation of Vilnius’ public transport system will contribute to cleaner air, lower emissions and better mobility services,” CEB Vice-Governor Tomáš Boček stated.
The EIB said it has financed investments in Vilnius since 2016 and now supports four municipal companies responsible for water, heating, street lighting, school management services and transport.
“This financing enables us to carry out one of the most ambitious public transport modernisation programmes in VVT’s history,” VVT chief executive Ignas Degutis said.
