Multi-apartment housing renovation is rapidly moving forward - Šiaulių Bankas has signed the thousandth credit agreement


Šiaulių Bankas has signed the thousandth agreement undertaking to credit the renovation of a multi-apartment house. This agreement has been signed with the administrator of the multi-apartment house located on Vytauto street in Druskininkai.   A credit of 215 thousand euros from the European Investment Bank (EIB) under the JESSICA facility will be allocated for renovation of this house.

"Renovation of multi-apartment houses has gained the speed especially in the country's regions. Nearly 85 per cent of all renovation agreements signed with Šiaulių Bankas over 2014-2016 were concluded not in big cities. By number of such agreements Druskininkai stand in the second place after Ignalina. We are glad that residents of the thousandth house taking advantage of the favourable credit terms will be able to reduce heating costs , thus, contributing to the sustainable development of the town and increasing the overall energy efficiency of the Lithuanian economy, which is highly important to the Bank", - says Chief Executive Officer of Šiaulių Bankas.

Šiaulių Bankas has granted 60 credits with the total value of 12 million euros to the inhabitants and administrators in Druskininkai. The thousandth credit has been granted for renovation of the multi-apartment building constructed in 1971 in Druskininkai which still poses many exploitation problems to its inhabitants. The credit funds will be used to replace the roof, insulate the walls and foundation, reconstruct the engineering constructions and the heating system, thus, allowing the inhabitants to reduce the heating costs considerably.

Vladzė Prunskienė, the director of Druskininkai Household Administration UAB acting as the administrator and the inhabitants themselves showed active interest in the course of the other renovation processes, consulted with experts of Šiaulių bankas regarding requirements and documentation of credits under the JESSICA facility.  V. Prunskienė particularly welcomes the opportunity to improve the quality of the house, creating a beautiful and comfortable living environment as well as to increase the value of the building.

For more than 15 years Šiaulių Bankas has been participating in multi-apartment house renovation (modernization) programme and takes a leading position in this area. In 2010, Šiaulių Bankas became the first financial partner of the EIB in Lithuania implementing the JESSICA facility.

Actively cooperating with the EIB as well as Lithuanian ministries, municipalities and other institutions, inhabitants and apartment building administrators, Šiaulių Bankas provides more than only credits to housing renovation. The bank acts as the nationally important project investor - during 2014-2016 it has contributed 80 million euros of its own funds to the Renovation (Modernisation) Programme.  Housing modernization is one of the priority areas of Šiaulių Bankas.