VILNIUS, Nov. 7 (Xinhua) -- The European Investment Bank (EIB) has granted Lithuania a 300 million-euro (345 million U.S. dollars) loan to finance defense-related projects, the Baltic News Service (BNS) reported on Friday.
Lithuanian Finance Minister Kristupas Vaitiekunas said the funds will be used to purchase dual-use equipment and improve infrastructure for the country's navy, air force and army, as well as for emergency services.
"The loan agreement will cover several key areas, including the development of naval, air force and land force infrastructure, logistics, emergency medical services, and the purchase of other equipment," Vaitiekunas said at the signing ceremony in Vilnius on Friday.
Lithuania is the first European Union member state to reach such an agreement with the EIB since the bank's board expanded its financing criteria in March to include military-related projects.
Earlier this year, the EIB approved a 540 million-euro concessional credit line for Lithuania to build the Rudninkai military campus for the incoming German brigade, pending contract signings with contractors. (1 euro = 1.15 U.S. dollars) ■