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Increased funding from the EIB for the renewal of energy-efficient housing in Lithuania

2013-09-13

Energy efficiency programs will be able to be implemented more quickly in Lithuania's cities thanks to a 40 million Euro loan contract that the European Investment Bank (EIB), controlling manager of the JESSICA fund in Lithuania, signed with Šiaulių Bankas.

This is the third contract between EIB and Šiaulių Bankas aimed at increasing energy consumption efficiency in apartment buildings by improving financing conditions. Apartment building managers and their owners can submit applications for 20-year loans with fixed rates to finance energy consumption efficiency improvement measures. Heating and hot and cold water supply system renewal, window and primary door changes, roof, outer wall and cellar roof insulation, and alternative energy source (solar, wind, etc.) installation are all ways to increase energy consumption efficiency. These investments will help greatly reduce energy consumption, which in turn will reduce people's energy bills.

“The EIB actively supports city development and energy consumption efficiency improvement projects. This is why we are happy about this contract with Šiaulių Bankas, which will not just help Lithuania reach its CO2 reduction goals, but will also have great social utility because it will improve the quality of life and will create more jobs, especially in the construction sector,” - said EIB President Werner Hoyer when signing the contract.

“I am happy about our cooperation with the European Investment Bank. I am proudest of the signed endorsements that we receive practically every day from apartment building residents who support modernization. This shows that they trust our program and want to live more efficiently and more beautifully. In order to fulfill their desires, it is important that we ensure secure sources for renovation financing. Our cooperation with the European Investment Bank is another step towards safety,” said Valentinas Mazuronis.

“We feel that residents are actively interested in the modernization of their apartment buildings, we know their needs, and we have no doubt that the renovations being implemented will have huge economic returns in the long run. The renovation program in Lithuania is important from economic, social and environmental standpoints. Therefore, we are working closely with the EIB, the Ministry of Environment, municipalities and other institutions to seek our nation's sustainable development. Lithuania's future is important to us. We feel a great responsibility, and we believe in the renovation program's utility and success,” - said Šialių Bankas chairman of the board Algirdas Butkus.

Public Information Division
2013-09-13

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