Šiaulių bankas signed the second agreement with the European Investment Bank (EIB) regarding the financing of renovation of multi-apartment buildings


On the 29th November 2010, in Brussels Šiaulių bankas and the European Investment Bank (EIB) signed the agreement of EUR 15 million (more than 51 million LTL) regarding the additional modernization loans intended for the investments in energy efficiency improvement measures in multi-apartment buildings.

Using JESSICA financial instrument, the received funds will be intended for the renovation programmes of multi-apartment buildings, which were prepared and approved by the Government of the Republic of Lithuania multi-apartment buildings modernization programme before the 1st September 2009.

Owners of multi-apartment buildings will be able to use the funds on projects promoting energy efficiency. The facility will be used to finance around 100 such projects which were prepared and approved by the Housing and Urban Development Agency (HUDA) before the 1st September 2009.

“Using JESSICA instrument Šiaulių bankas will contribute to the energy efficiency in the Lithuanian multi-apartment buildings. The funds intended for this programme will ensure the significant reduction of energy costs as well as heating expenses - this should encourage residents to use the credits intended for the renovation of multi-apartment buildings”, stated Deputy Chairman of the Bank Board Donatas Savickas.

In May this year Šiaulių bankas and EIB signed the first agreement of EUR 6 million regarding the financing of renovation of multi-apartment buildings under the JESSICA programme. According to this new renovation programme, supported by the state, Šiaulių bankas has already signed financing agreements with the one community of multi-apartment buildings of Panevėžys and one - of Plungė.

Loans provision agreement of JESSICA fund with Šiaulių bankas is the third such agreement in Lithuania, whereof two of them signed with Šiaulių bankas.