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European Banks lends €32.5m to Lithuania to reduce shipping-related carbon emissions

CTBR Staff Writer Published 04 January 2013

The European Bank for Reconstruction and Development (EBRD) will provide a €32.5m loan to Lithuania to help reduce shipping-related carbon emissions by enhancing the container handling capacity at the Klaipeda port.

The loan will aid the transformation of Klaipeda into a major regional transhipment hub.

Container terminal operator Klaipedos Smelte will employ the funds to purchase container cranes, handling equipment and expansion of the existing terminal at Klaipeda.

Commenting in the developments EBRD transport director Sue Barrett remarked that the loan seeks to improve the quality and scope of port services in the region.

Expanded capacities at the port will boost efficient cargo movement in the region and thereby reduce carbon emissions by 50,000t per annum.