Good news: Japan interested in Rail Baltica

The Japan Bank for International Cooperation (JBIC) is interested in providing financing for the Rail Baltic European-gauge railway project and the Baltic power grids’ synchronization with the Western European system, an adviser to Lithuanian President Gitanas Nauseda said.

Nauseda and JBIC governor Tadashi Maeda discussed such possibilities during their meeting in Davos, according to adviser Simonas Krepsta.

“They [JBIC] are closely watching the Rail Baltic and synchronization projects and are ready to finance them on good terms,” the adviser told by phone from the Swiss resort.

“The bank is waiting until there is clarity on the EU funding and on how much the Baltic countries will have to contribute themselves,” he said. “They would then be ready to compete (with other lenders) to fund the remaining part of the projects.”

JBIC is also interested in providing funding for Lithuanian startups, especially in finance, life sciences and biomedicine, according to Krepsta.

The Rail Baltic railway linking Tallinn to Warsaw is expected to be built by 2026. The Baltic countries plan to desynchronize their electricity grids from the post-Soviet system and synchronize them with the Continental European system by 2025.

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