In his words, the 10-year contract on the 25-50 mln euro loan should be signed shortly, with a green light from the City Council expected on Wednesday.
"This would be formed as a credit line. The money would be used for two areas, one of them is refinancing old debts and making them cheaper. At least half of the money will be earmarked for these needs, if we take 25 mln euros. The rest of the sum is planned exclusively for investment in co-financing of projects financed by the European Union," informed Simasius.
In his words, interest on the EIB loan would be about 1%, as compared to the current interest of nearly 4%. According to the municipality's calculations, this would allow saving about 380,000 euros per year.
Simasius said the future loan was a "signal" of smooth handling of the Vilnius debt, which allows restoring trust of financial institutions.
The Lithuanian capital city's municipality told that the debt currently stands at 385.8 mln euros, including 135.69 mln euros in loans.
