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Another injection of EUR 90 million into the renovation of multi-apartment buildings


Today, the European Investment Bank (EIB) and Šiaulių Bankas, furthering their mutual cooperation, have signed a new agreement for the allocation of EUR 90 million from the Jessica II Fund, EUR 60 million of which is co-financed by Šiaulių Bankas, for the refurbishment of multi-apartment buildings in Lithuania. This financial injection will help refurbish at least 9,000 apartments and cut energy bills for the residents.

“The increase of energy efficiency in multi-apartment buildings directly contributes to the sustainable development of our economy – it helps reduce the amount of energy used for heating more than by half, make our environment more beautiful and improve air quality. Undoubtedly, this is yet another step towards a more rational use of natural resources”, says Minister of Environment Kęstutis Navickas.

Funds from the EU programme “Jessica II Fund” managed by the EIB are allocated for the renovation (modernisation) of multi-apartment buildings under the national Multi-Apartment Building Renovation (Modernisation) Programme. Šiaulių Bankas became the first partner of the EIB in Lithuania to grant preferential loans for this purpose.

“The successful deployment of Jessica funds has helped to create jobs as well as lower carbon emissions in Lithuania”, says EIB Vice President Andrew McDowell, responsible for energy lending. “This programme not only helps achieve Lithuanian objectives in terms of climate action, but also directly improves many Lithuanian’s lives.”

Communication Division
16 March 2017

Minister of Environment of Lithuania Kęstutis Navickas
Minister of Environment of Lithuania Kęstutis Navickas