BAKU, Azerbaijan, December 2. The European Bank for Reconstruction and Development (EBRD) and Swedbank Lithuania are jointly providing a 48.4 million euro loan facility to support the development of SIRIN PARK GARIŪNAI, a modern logistics park in Vilnius, Lithuania, Trend reports.
The EBRD's share of the loan amounts to 24.2 million euros, with 15.8 million already allocated and an additional 8.4 million reserved for future expansion.
This co-financing agreement, which also involves SIRIN Development, a major logistics real estate developer in the Baltic States, will enable the construction of approximately 100,000 square meters of sustainable warehouse space. The park, strategically located near the Vilnius-Kaunas motorway, will feature energy-efficient technologies and target BREEAM Excellent certification.
Tomas Kairys, EBRD Head of the Baltic States, emphasized the project’s contribution to enhancing Lithuania's green logistics infrastructure. Vlaho Kojakovic, EBRD Head of Real Estate, noted that the project aligns with the bank's real estate strategy for sustainable development, focusing on green building practices.
Swedbank’s Martynas Trimonis highlighted the long-standing partnership with SIRIN Development, which has provided over 100 million euros in financing. Laurynas Kuzavas, CEO of SIRIN Development, stated that the investment will accelerate the transformation of an outdated industrial site into a modern logistics hub, contributing to economic growth and sustainability in the region.
SIRIN Development is the largest logistics real estate developer in the Baltic States, managing over 333,000 square meters of logistics space across Lithuania, Latvia, and Estonia. The EBRD has invested more than 1.7 billion euros in 136 projects in Lithuania.