Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

16 Dec 1997



PSD disclosed:

28 Jan 1997

Project Description

A US$ 6.3 million cross-currency options and swaps line with a tenor of up to fifteen years to the Republic of Lithuania to hedge Yen/US$ exchange risk arising from co-financing by the Export-Import Bank of Japan (JEXIM) of three infrastructure projects funded by the EBRD: Via Baltica and Lithuania Road Project, the Lithuanian Transport Project and the Lithuanian Telecom Development Project.

Project objectives: The facility will allow the Republic of Lithuania to hedge short-term and long-term exposure to Yen/US$ rate fluctuations that may lead to a funding shortfall or increased funding cost in US$ terms for the client via one or a series of cross-currency options and swaps.

Transition Impact

The facility will encourage better assets/liabilities management on the part of the client and will contribute towards a successful implementation of the infrastructure projects financed by the EBRD.

The Client

Republic of Lithuania.

EBRD Finance

A hedging line to convert client's Yen exposure into a US$ exposure via one or a series of cross-currency options and swaps.

Project Cost

Total EBRD exposure will not exceed US$ 6.3 million (ECU 5.7 million equivalent).

Environmental Impact

C/0: The project does not require an environmental analysis or an environmental audit. Environmental issues associated with the three infrastructure projects in question have already been addressed through the EBRD's direct involvement in these projects as a lender.

Technical Cooperation



Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

Share this page: