For renovation of multi-apartment buildings - EUR 30 million more from Šiaulių bankas


Šiaulių Bankas has contributed additional EUR 30 million of the bank’s resources for the Programme for Renovation of Multi-apartment Buildings in Lithuania. These funds will be channelled through the JESSICA Holding Fund managed by the European Investment Bank.

At the end of 2014 Šiaulių Bankas has become the first financial institution in Lithuania to contribute the bank’s funds to the renovation programme by providing the first EUR 20 million. After allocation of additional EUR 30 million the total amount of Šiaulių Bankas’ funds contributed to the renovation programme totals to EUR 50 million.

 “The demand for financing of renovation projects is especially high at the moment. The amount of investment plans that are already prepared and confirmed by the residents has already exceeded available funding. We are the leaders in financing renovation process and we feel responsible for the smooth renovation process. By providing the bank’s funds we will contribute to the modernisation programme resources and will ensure its successful implementation”, – said Mr Vytautas Sinius, Chief Executive Officer of Šiaulių Bankas.

According to the data of Housing and Energy Saving Agency, currently 1280 old multi-apartment buildings are undergoing modernisation works, with a total of EUR 240 million worth of agreements made in the construction sector.

From February 2013 onwards, Šiaulių Bankas has signed 573 credit agreements for EUR 111 million under the preferential programme for renovation of multi-apartment buildings for administrators. According to the data as of August 2015, it has preliminary approved financing for additional 580 projects totalling EUR 153 million. Šiaulių Bankas is the first partner of the European Investment Bank in Lithuania in providing preferential loans for renovation.