VILNIUS - City officials in Kaunas said they have their eyes on several hundred million euros of loans from Deutsche Bank to finance various city projects. Bhargava Puja, Deutsche Bank vice president, said after last week's meeting with Kaunas authorities in Warsaw that the projects submitted to the bank would be profitable for the bank, according to Gediminas Petrauskas, a Kaunas City Council member.
"According to preliminary evaluations, they will support the projects and lend us money," Petrauskas told the Baltic News Service. "The lending model implemented by the bank will enable Kaunas to borrow more than the state allows. This is the only European bank, which would extend us a credit line of several hundreds of millions of litas for a 20-year period."
Next week Deutsche Bank will announce its rating for Kaunas, which would predetermine the city's scale of funding, he added.
Projects include a logistics center, which would cover several industrial districts, the Karmelava Airport and a river port.
