The European Investment Bank (EIB) is providing a €100 million ($115 million) loan to help transform Lithuania’s largest seaport, Klaipėda, into a strategic gateway for defense, energy and trade in the Baltic region.
According to EIB's latest announcement, the Klaipėda State Seaport Authority will use the EIB loan to upgrade and expand infrastructure, strengthening the port's role in military mobility, increasing clean-energy facilities and supporting offshore wind development.
The EIB credit will cover up to half the project's total cost of around €201 million, with the remaining financing to come from the European Union, national sources and other institutions.
Also, the project includes:
- dredging works and reinforced breakwaters,
- shoreside electricity supply for ferries,
- green-hydrogen production and refueling infrastructure,
- low-emission port vessels,
- upgraded quays for offshore wind development.
Commenting the news, EIB Vice-President Karl Nehammer, said: "Few projects illustrate Europe's priorities as clearly as the Port of Klaipėda. It is an investment that directly contributes to the missions of supporting European security and cohesion, while aligning with the green transition.”
The port is part of the EU's core Trans-European Transport Network (TEN-T). The upgraded quays and maritime infrastructure will help position Klaipėda as a key logistics hub for the deployment and maintenance of offshore wind farms, supporting Europe's green transition and energy security, EIB concluded.