EIB helps transform Lithuania’s port of Klaipėda into defence and clean-energy hub with €100 million in financing

The European Investment Bank (EIB) has provided a €100 million loan to Lithuania's Klaipėda port to transform it into a strategic hub for defense, clean energy and trade in the Baltic region. The Klaipėda State Seaport Authority will use the EIB financing to upgrade and expand infrastructure, bolstering the port's role in military mobility, clean-energy facilities, and offshore wind development.

Situated at an important location for NATO operations, the port, which dates back to the 13th century, is crucial for the North Atlantic Treaty Organization (NATO). Parts of the cruise-ship terminal are being adapted to meet NATO requirements, enhancing logistical support for allied naval vessels while maintaining value for civilian transport and the local economy.

The entire project is set to be completed by the end of 2027, with the EIB credit covering up to half of the €201 million total cost. The remaining financing will be sourced from the European Union, national funds, and other institutions. The EIB credit will facilitate shoreside electricity supply for ferries, green-hydrogen production and refueling infrastructure, low-emission port vessels, upgraded quays for offshore wind development, dredging works, and reinforced breakwaters.

EIB Vice-President Karl Nehammer emphasized that the Klaipėda port project aligns with Europe's priorities of supporting security, cohesion, and the green transition. The port is part of the EU's core Trans-European Transport Network (TEN-T), and its upgrades will position Klaipėda as a vital logistics hub for offshore wind farms, promoting Europe's green transition and energy security.

Algis Latakas, Director General of the Klaipėda State Seaport Authority, highlighted the significance of the EIB financing agreement, stating that it marks an important step forward for the port's development, enabling the implementation of key projects that will shape the future of Klaipėda Port, including the new dual-use Cruise Ship Terminal, shore power facilities, and other initiatives that will enhance the port's competitiveness, sustainability, and resilience.