Municipalities are invited to apply for funding of public buildings’ renovation

2018-10-15

Šiaulių Bankas invites municipalities and municipal entities to submit applications for financing referring to public building renovation projects in accordance with the financial instrument "Loans for the modernization of municipal buildings funded by the European Regional Development Fund".

The facility aims to promote the refurbishment of municipal buildings by increasing energy efficiency.

Under this facility preferential loans are granted to municipalities that intend to renovate public buildings. A preferential loan of up to 100% of project value is granted to municipalities or entities attributed to them, whereas companies operating in energy saving service supply sector can apply for up to 80% of the project value. A compulsory financing requirement implies that at least 51% of the ownership of the entire building area must belong to the municipality and, after implementing the energy efficiency improvement project, the building must be used for at least 10 more years according to the target use.

Municipal public buildings after refurbishment will be more energy efficient and more user-friendly. After modernization buildings should meet the energy efficiency class C. It is anticipated that preferential loans granted for the renovation of municipal buildings will attract interest from both municipalities that can borrow themselves and from companies that would like to implement projects under the Energy Service Company (ESCO) model.

More detailed information on this financial facility and its conditions is available here.