EIB and Lithuania sign advisory services agreement to support green inland freight navigation

The European Investment Bank (EIB) and the Lithuanian Inland Waterways Authority have signed a consultancy services agreement to support the construction of zero-emission electric transport vessels to initiate freight transport between the two major cities of Klaipėda and Kaunas. At the end of 2021, an ambitious project to introduce an electric tug was launched in Lithuania. With no CO2 emissions, this project will play a crucial role in revitalizing freight transport on Lithuania’s largest river, the Nemunas (aka Neman), and developing greener transport chains in the country.

EIB experts as well as external service providers mobilized by the European investment advisory platform will provide advice to LIWA to analyze the feasibility of the project, as well as its financing options. The EIB, through the EIAH, will also provide market information on providers and operators, as well as any potential regulatory and competition issues.

“I am delighted that EIB advisory services are supporting this innovative transport infrastructure project, which will help achieve Lithuania’s climate ambitions by significantly reducing air pollution and traffic,” said Thomas Östros, Vice -President of the EIB in charge of the activities of the EIB in the Baltic countries. “The EIB is fully committed to advising and financing investment projects that promote innovative and green solutions for transport in the European Union.”

LIWA CEO Vladimiras Vinokurovas said, “The Lithuanian Inland Waterways Authority is the administrator of waterways of national importance. the national carbon footprint of transport by replacing fossil fuel trucks with electric barges All Lithuanian companies, especially state-owned ones, should strive for a green path and a sustainable economy not only in the final result, but also in all the intermediate chains. As supply chains become more sustainable, advanced solutions are integrated into a single chain and deliver maximum benefits. Water transport is the most environmentally friendly, accident-free, unlimited and cost-effective of all modes.

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