Nordic Investment Bank funds Vilnius stormwater infrastructure expansion
The Nordic Investment Bank has issued a €36 million loan to UAB Grinda to upgrade the stormwater management network in Vilnius by 2030.
The Nordic Investment Bank (NIB) has finalized a 10-year financing agreement totaling €36 million with UAB Grinda, a municipal company responsible for infrastructure in Vilnius. The funds are earmarked for a comprehensive modernization of the city's stormwater management system between 2025 and 2030.
The investment plan includes the expansion of drainage networks, the replacement of deteriorated piping, and the construction of new treatment facilities. Additionally, the financing will support the acquisition of maintenance equipment. These measures are designed to mitigate flood risks and increase the city's resilience to extreme weather events caused by climate change.
Improved stormwater management is increasingly vital for urban sustainability, particularly in rapidly developing cities. By supporting this infrastructure project, NIB aims to address long-term environmental challenges and protect urban assets from future climate-related damage.