We advised the European Investment Bank (EIB) and the Council of Europe Development Bank (CEB) on a EUR 110 million financing to deploy up to 160 new zero-emission buses and related charging infrastructure.
Both banks are providing a EUR 55 million loan to Vilniaus Viešasis Transportas (VVT) – the city’s public transport operator – for the project, which will result in one of the Baltic region’s largest zero-emission bus fleets. The project is due to be completed by the end of 2027.
VVT will use the EIB and CEB loans to help finance new electric and hydrogen buses, 145 charging stations and upgrades to existing depots, replacing older diesel and liquefied-petroleum-gas vehicles. The goal is to improve services for bus riders while reducing greenhouse gas emissions, smog and noise across Vilnius, which has more than 600,000 residents and aims to become climate neutral by 2030.
The operation supports a broader VVT investment programme to upgrade public transport and is a landmark example of international financial cooperation in Europe.
Alongside the EIB and CEB financing for electric buses and charging infrastructure in Vilnius, the European Bank for Reconstruction and Development (EBRD) and Nordic Investment Bank (NIB) are supporting the renewal of the city’s trolleybus fleet. This marks the first time that four international financial institutions have jointly financed a project in the Baltics and is one of the first such cases in Europe.
Our services and project team
Our team, consisting of partner Augustas Klezys, counsel Vitalija Impolevičienė, senior associate Linas Petronaitis, and assistant lawyer Povilas Plikūnas advised EIB and CEB on all legal matters governed by Lithuanian law related to the transaction, from risk assessment and structuring to financing documents and security.
