Board Approval Date | Project | Project
Cost*
(million USD) | IFC
Financing*
(million USD) | Project
Description |
May-02 | Hotel Lietuva | 30.4 | 18.6 | Refurbishment and repositioning of Hotel Lietuva in Vilnius from a Soviet-style to an international standard mid-market hotel. |
Nov-00 | Vilniaus Bankas | 20.0 | 18.7 | Provision of long-term funding.
By improving the bank's capital position, the project is expected to allow Vilniaus Bankas to prudently expand its operations and better serve Lithuania’s developing corporate sector, primarily SMEs. This project would be a key component of IFC's strategy to target SMEs in the Baltics. |
Dec-99 | Drobe Wool | 21.3 | 6.6 | Privatization and phased upgrading of fabric forming and finishing operations at Drobe, the country’s largest producer of wool worsted fabrics. Established in 1920, Drobe is one of the largest textile producers in Central and Eastern Europe, employing over 2,000 employees and headquartered in Lithuania's second-largest city, Kaunas.
Drobe has established itself in Western markets as a quality, low-cost source of fabrics. The company sells about three-quarters of its output to Western markets.
This project is a joint investment with the EBRD. |
Jan-99 | AB Ekranas | 39.5 | 15.0 | Modernization of Ekranas, Lithuania's only television color picture tube (CPT) manufacturer and one of the largest private sector employers. It is located in Panevezys in the northern part of the country.
As a result of the project, Ekranas will modernize CPT production including refurbishment of the glass furnace, raise the quality of final products due to better glass and improvements in the CPT assembly process, and address various environmental deficiencies. |
Jan-99 | Superfos | 5.0 | 1.7 | Construction of an asphalt production plant in Vilnius. The company produces high-quality asphalt as well as constructs, maintains, and paves roads. Initial annual production of 50,000 tons of asphalt will mainly serve the company’s own paving activities, with any excess sold on the market. Superfos is the first facility in Lithuania to use recycled asphalt. It uses a more efficient and environmentally friendly process.
The project was financed under the IFC/Investment Fund for Central and Eastern Europe Co-Investment Line. |
Jan-99 | Vilniaus Margarino Gamykla | 2.1 | 0.6 | Construction of a margarine production plant in Vilnius. The project was financed through the Investment Fund for Central and Eastern Europe. |
Apr-95 | Liteksas Ir Kalw | 27.2 | 11.6 | Modernization and expansion of a privatized, export-oriented wool mill to increase production capacity and improve fabric and blanket finishing.
This project was IFC’s first investment in Lithuania. |
* Project cost and IFC financing refer to amounts approved by the IFC's Board.
