Šiaulių bankas was financing the works of the first multi-apartment building renewed under the JESSICA programme


Renovation of the first old multi-apartment building in Plungė is finished, the renovation works of which were financed by Šiaulių bankas under the initiative of the European Investment Bank (EIB) JESSICA.

Šiaulių bankas provided a financing of more than LTL 730 thousand for renovation of multi-apartment building, which is situated in Vaišvilos street, in Plungė town. With the help of these funds the following works were made: heating and hot water systems were modernized, out doors and windows were changed, balconies were glassed in, roofs and external walls of the building were insulated, basement floor overlay were made, etc. According to the specialists energy cost of this house decreased more than half.

“While renovating our house not only costs for its supervision decreased, but also aesthetical view of multi-apartment building changed. The quality of life of its dwellers has also changed: old and obsolete became new, modern and economical. We have estimated that we will save around 55-60 per cent of heat within a year”, says Anicetas Paulikas, the chairman of Plungė associations of owners of multi-apartment building.

“A decision to modernize the multi-apartment building is a significant step for the association seeking to use heating more efficiently, use a state’s support and invest into their own house. However, we do not doubt that the investment of Plungė residents will be paid back and they will feel a benefit this winter: first of all, less heating energy will be consumed and secondly, they will benefit from significant cost reduction, what is very important. We believe that other associations of owners of multi-apartment buildings will be also actively involved in this process”, says Vytautas Sinius, the Head of Corporate Banking Division of Šiaulių bankas.

Šiaulių bankas provides long-term loans with low and fixed annual interest rates for owners of multi-apartment buildings intended for renovation of residential buildings. Loans are provided for a period of up to 20 years. Associations intending to renovate buildings can apply to any outlet of Šiaulių bankas.

Šiaulių bankas cooperating with EIB last year became the first financial partner in Lithuania using JESSICA financial instrument for reduction of energy consumption by dwellers as well as heating costs of premises. Under this instrument the bank has signed two agreements, according to which it is planned to provide credits for LTL 55 million intended for modernization of multi-apartment buildings. Currently implementing renovation programmes of multi-apartment buildings Šiaulių bankas has approved applications for more than LTL 11 million. Associations of owners of multi-apartment building of Vilnius, Klaipėda, Kaunas and Rietavas are the most active in submitting applications.