The loan seeks to finance a portion of Litgrid’s investment for the reconstruction of the national electricity transmission network and projects in the 2013 to 2017 timeframe.

With an estimated value of € 478m, the projects intends to prepare the integration of the power system into the network of Europe enabled by the power links to Sweden (NordBalt) and Poland (LitPol Link).

Founded in the mid 1970’s, NIB is an international financial institution owned by eight Nordic member countries, including Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden.