The loan agreement was signed on August 7, 2002. According to the agreement the Bank will grant a 5.79 mio Euro loan for 7 years. The loan will be used for financing Vilnius City development projects.

It is the second loan for Municipality from Nordea Bank Lithuana. In July, 2002 Nordea Bank Lithuania won a tender arranged by Vilnius City Municipality for financing the construction works of the cross road of T. Narbuto street and Laisvės avenue and infrastructure development near new building of Municipality in Ukmergės str. The Bank granted a 6,87 mio Euro loan for 7 years.

Nordea Bank Lithuania is looking for possibilities to participate in other projects headed by municipalities or state, as the bank has expertise and resources for financing of those projects.