Lithuania has signed an agreement with the European Investment Bank (EIB) for a loan of 300 million euros for defense needs. The document was signed by Lithuanian Finance Minister Kristupas Vaitiekunas and EIB Vice-President Karl Nehammer.
„The loan will be used for both military programs and dual-use products“, the Lithuanian minister said at a press conference after signing the agreement.
The funds are planned to be invested in the infrastructure of the naval and air forces, in the development of the land forces, as well as in the acquisition of emergency medical equipment.
„Loan financing is the main tool for financing responses to modern security challenges“, Vaitiekunas stressed.