EBRD and Swedbank Fund €48.4M Green Logistics Hub to Boost Supply Chains in Lithuania

EBRD and Swedbank Fund €48.4M Green Logistics Hub to Boost Supply Chains in Lithuania

(IN BRIEF) The European Bank for Reconstruction and Development (EBRD) and Swedbank Lithuania have partnered to provide €48.4 million in funding for the development of SIRIN PARK GARIŪNAI, a modern logistics park near Vilnius, Lithuania. The project, led by SIRIN Development, will deliver 100,000 square meters of energy-efficient, sustainable warehousing designed to meet growing regional demand. The logistics park aims to achieve BREEAM Excellent certification, setting a benchmark for green logistics and advancing Lithuania’s climate goals. EBRD and Swedbank emphasized their commitment to sustainable development, with SIRIN Development highlighting the transformation of outdated facilities into a thriving business hub.

(PRESS RELEASE) LONDON, 3-Dec-2024 — /EuropaWire/ — A significant milestone for green logistics infrastructure in Lithuania has been announced as the European Bank for Reconstruction and Development (EBRD) and Swedbank Lithuania join forces to extend a €48.4 million loan facility. This funding will facilitate the development of SIRIN PARK GARIŪNAI, a cutting-edge logistics park strategically located near the Vilnius-Kaunas motorway. The initiative is expected to strengthen regional supply chains while advancing decarbonisation in the real-estate sector.

The EBRD’s contribution comprises €24.2 million, of which €15.8 million has been committed, with an additional €8.4 million earmarked for future expansion. Swedbank Lithuania is matching this investment and serving as the agent for the project. Together, the co-financing arrangement will support SIRIN Development, a prominent logistics real-estate developer in the Baltic States, in delivering 100,000 square meters of sustainable, state-of-the-art warehouse infrastructure.

SIRIN PARK GARIŪNAI aims to redefine green logistics in the region, integrating energy-efficient technologies and aspiring to achieve BREEAM Excellent certification. This aligns with Lithuania’s environmental goals, creating a benchmark for sustainable development in the sector.

Tomas Kairys, Head of the Baltic States at EBRD, commented on the collaboration, emphasizing the project’s potential to revolutionize Lithuania’s logistics infrastructure while setting new standards for sustainability. Similarly, Vlaho Kojakovic, EBRD Head of Real Estate, highlighted how the project exemplifies the bank’s strategy to promote green building practices and energy-efficient supply chains.

Martynas Trimonis, Swedbank’s Head of Real Estate and Energy, praised the ongoing collaboration with SIRIN Development, noting the over €100 million in financing provided to date. He reaffirmed Swedbank’s dedication to enabling projects that align with climate mitigation goals and advance sustainable real-estate practices.

SIRIN Development’s CEO, Laurynas Kuzavas, expressed his enthusiasm for the partnership, underscoring the project’s transformative potential. “This investment accelerates the conversion of outdated industrial sites into a thriving logistics hub. Our modern facilities not only support energy efficiency but also offer cost-effective solutions for businesses,” he said. Kuzavas also highlighted the park’s growing business community and its capacity to welcome new enterprises as it expands.

With a robust portfolio spanning over 333,000 square meters across Lithuania, Latvia, and Estonia, SIRIN Development stands as the leading logistics real-estate developer in the Baltic States. It is also the sole Baltic company recognized among the top 20 logistics property developers in Europe by PropertyEU Magazine.

The EBRD, a significant institutional investor in Lithuania, has committed over €1.7 billion across 136 projects in the country. This latest collaboration underscores its dedication to fostering innovation and sustainability in the region.

Media Contact:

Tel: +44 207 338 7805
Email: Group-PressUnit@ebrd.com

SOURCE: EBRD