Last year, Lithuania was among the top ten European Union (EU) countries receiving the most EIB funding, measured by its share of GDP – our country ranked 8th.
In an interview with 15min, N. Calvino called Lithuania a success story and stated that this year the scale of EIB funding in Lithuania could increase fourfold.
According to the EIB president, after the bank fundamentally changed its policy direction two years ago and significantly increased funding in the security and defense sector, financing such projects on the eastern flank of Europe is seen as a priority.
“2026 promises to be another record year. We are close to the goal that the share allocated to security and defense will exceed 5% of our entire portfolio. That would amount to more than 5 billion euros. About 30% of this funding should go to the eastern flank of Europe — last year this share was 25%,” emphasized N. Calvino in an interview with 15min.
– Last year, the European Investment Bank (EIB) Group’s funding in Lithuania amounted to 577 million euros. You also announced last year that you would allocate more than half a billion euros for the construction of the Rūdninkai military town – this year we are already seeing incoming loans. So what scale of funding can we expect this year?
– We aim to increase the scale of funding in Lithuania fourfold compared to last year — so almost up to 2 billion euros in 2026.
We allocate 100 billion euros in funding to Europe and the world, but Lithuania is a great success story, and I am very proud that the European Investment Bank plays such an important role in contributing to this success — supporting Lithuania’s economy and increasingly contributing to Lithuania’s defense.
Lithuania is a great success story.
Lithuania’s defense is also Europe’s defense, so it is important that we focus our investments here, on the eastern flank.
– About half a billion euros in loans are planned for the construction of the Rūdninkai military town, so if EIB funding in Lithuania reaches 2 billion euros this year, what other larger projects do you plan to finance?
– We have financed projects in the energy sector. For example, here in Lithuania, we finance the largest onshore wind farm in the Baltic region (Ignitis Group’s Kelmė wind farm – editor’s note).
We also have projects related to security and defense — not only Rūdninkai.
We also support the overall strengthening of Lithuania’s state preparedness, so over the past two years, almost 1 billion euros have been invested in security and defense in Lithuania.
Lithuania’s defense is also Europe’s defense, so it is important that we focus our investments here, on the eastern flank.
The EIB will also allocate a 100 million euro loan for the modernization of the Klaipėda port. This is also an important facility from a security perspective.
– Lithuania’s geography dictates a reality where security is not a topic of theoretical discussions but a real concern. How much total funding for defense is directed to Eastern Europe?
– Just two years ago, we fundamentally changed the bank’s policy direction and significantly increased funding in the security and defense sector.
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- The EIB allocates 5% of all funding to defense: is that enough?
- Which defense projects does the EIB finance, and which does it not.
- How will N. Calvino evaluate after three years whether EIB funding for defense was successful?
- The main strength of Europe.
- Market fragmentation – the main weakness of Europe.
- How the bank selects energy projects to finance.
- Which areas currently have the greatest need for funding in Europe.
