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EIB loans Lithuanian Railways €50M

The European Investment Bank (EIB) has signed a €50M loan agreement with Lithuanian Railways for the acquisition of modern rolling stock.
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Following EIB support for the upgrading of railway infrastructure and purchase of new locomotives, this is the third EIB operation aimed at modernising the country’s railways.

The EIB loan will facilitate the purchase of 590 new wagons – 150 tank, 140 open-top, 100 covered and 200 platform wagons. The main use of the freight wagons will be for cross-border railway traffic between Lithuania and the CIS countries.

In line with EIB environmental goals, these modern freight wagons will be equipped with low-noise brake blocks, reducing noise by 50% compared with old wagon equipment.

“The EIB strongly promotes sustainable transport, and railways will remain one of the most energy-efficient and least polluting land transport modes,” said EIB President Werner Hoyer.

“We therefore particularly welcome this agreement with Lithuanian Railways, as the project will improve the competitiveness and attractiveness of rail transport services.”

As well as the freight carrying equipment, three diesel and six electric multiple units for rail passenger traffic will be acquired.

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