News
Lithuanian capital Vilnius to deploy more than hundred zero-emission buses with EIB and CEB financing
20 October 2026
- Vilnius public transport operator VVT to deploy as many as 160 zero-emission buses with financing from EIB and Council of Europe Development Bank
- Loans totalling €110 million also support Vilnius charging network for new bus fleet, bolstering city’s climate-neutrality goal
- Operation is part of first municipal transport financing programme in Baltic region jointly supported by four international banks
The Lithuanian capital Vilnius will deploy up to 160 new zero-emission buses and related charging infrastructure with the help of a €110 million financing package from the European Investment Bank (EIB) and the Council of Europe Development Bank (CEB), advancing Europe’s drive to improve urban life and fight climate change.
Both banks are each providing a €55 million loan to Vilniaus Viešasis Transportas (VVT) – the city's public transport operator – for the project, which will result in one of the Baltic region’s largest zero-emission bus fleets. The project is due to be completed by the end of 2027.
VVT will use the EIB and CEB loans to help finance new electric and hydrogen buses, 145 charging stations and upgrades to existing depots, replacing older diesel and liquefied-petroleum-gas vehicles. The goal is to improve services for bus riders while reducing greenhouse gas emissions, smog and noise across Vilnius, which has more than 600,000 residents and aims to become climate neutral by 2030.
"Vilnius is showing how European cities can turn climate ambition into tangible improvements for citizens,” said EIB Vice-President Karl Nehammer. “Together with the Council of Europe Development Bank, we are helping deliver cleaner buses, better public transport and healthier urban environments for hundreds of thousands of people."
The operation supports a broader VVT investment programme to upgrade public transport and is part of a landmark example of international financial cooperation in Europe.
Alongside the EIB and CEB financing for electric buses and charging infrastructure in Vilnius, the European Bank for Reconstruction and Development (EBRD) and Nordic Investment Bank (NIB) are supporting the renewal of the city’s trolleybus fleet. This marks the first time that four international financial institutions have jointly financed a project in the Baltics and one of the first such cases in Europe.
“This project is a powerful example of how international financial institutions can work together to support cities in delivering tangible benefits for their residents,” said CEB Vice-Governor Tomáš Boček. “The modernisation of Vilnius’ public transport system will contribute to cleaner air, lower emissions and better mobility services, helping the city advance its climate goals while improving everyday life for hundreds of thousands of people, including low-income households, elderly persons and people with disabilities.”
The operation builds on a longstanding partnership between the EIB and Vilnius. Since 2016, the EIB has financed a range of investments in the Lithuanian capital and now supports four municipal companies responsible for water, heating, street lighting, school management services and transport.
“This financing enables us to carry out one of the most ambitious public transport modernisation programmes in VVT’s history,“ said VVT Chief Executive Officer Ignas Degutis. “We sincerely thank the EIB and CEB for their trust and partnership. Together, we are investing in 161 zero-emission buses and the infrastructure needed to operate them reliably, creating cleaner, quieter and more comfortable journeys for Vilnius residents.”
Press contacts
EIB
Kristiina Randmaa | k.randmaa@ext.eib.org | tel.: +352 4379 72894
Website: www.eib.org/press - Press Office: Press contact form
VVT
Evelina Gaurilčikaitė | Evelina.Gaurilcikaite@vilniausvt.lt | tel.: +370 603 71929
Website: www.vilniausviesasistransportas.lt
CEB
Jelica Vesic | jelica.vesic@coebank.org | tel.: +33 603 12 57 80
Website: www.coebank.org
Background information
About the EIB Group
The European Investment Bank (EIB) Group is the financing arm of the European Union, owned by the 27 Member States, and one of the largest multilateral development banks in the world. In 2025, the EIB Group signed €100 billion in new financing and advisory services for over 870 high-impact projects under eight core priorities that support EU policy objectives: climate action and the environment, digitalisation and technological innovation, security and defence, territorial cohesion, agriculture and the bioeconomy, social infrastructure, strong global partnerships and the savings and investments union. Beyond long-term loans for large infrastructure, the EIB Group crowds in private investment for high-risk innovative projects and businesses, with a growing role in Europe’s markets for venture debt, venture capital, guarantees and securitisations.
Photos of the EIB Group's representatives and headquarters, logo files and video B-roll for media use are available here.
About VVT
Vilniaus viešasis transportas (VVT) is the public transport operator owned by the City of Vilnius and one of the largest transport companies in Lithuania. VVT operates the city’s bus and trolleybus services, carrying more than 180 million passengers annually. The company is implementing a large-scale fleet modernisation programme, including the acquisition of new zero-emission buses and trolleybuses and the development of the related charging and depot infrastructure, supporting Vilnius’ goal of becoming a climate-neutral city by 2030.
About the CEB
The Council of Europe Development Bank (CEB) is a multilateral development bank with an exclusively social mandate from its 43 member countries. The CEB finances investment projects and provides technical assistance in social sectors such as education, health and affordable housing, while focusing on the needs of vulnerable people, as well as on the social dimensions of climate change and the environment. Borrowers include governments, local and regional authorities, public and private banks, non-profit organisations and others. The CEB, which has a triple-A credit rating, funds itself through international capital markets. In addition, the CEB receives funds from donors to complement its activities.