Šiaulių bankas will cooperate, granting credits for the apartment-house modernization


According to the Economy Promotion Plan of the Ministry of Economy Šiauliai bank AB and “Investments and Business Guarantees” (INVEGA) signed a cooperation agreement on the guarantees’ rendering for the charged loans to modernize the apartment-houses.

Šiaulių bankas is the first bank in Lithuania, which will try to speed up the slowdowned lending process of the apartment-house modernization.

“Šiaulių bankas’ credits will be granted to the renovation projects’ implementation of apartment-houses. However, we will pay attention not only to the modernization process but also to the quality of the performed construction works, the needs of communities and their projects’ effectiveness and validity. We hope that the state support will induce the communities of the apartment-houses and their owners to start the effective renovation works, and the renewed modernization project will set forward quickly”, - stated the Deputy Chief Executive Officer, the Head of Vilnius Region of Corporate and Retail Banking of Šiaulių bankas Viktoras Budraitis.

“The apartment-house modernization is a very significant event, seeking to improve presently quite important situation of the apartment-house renovation”, - said the General Director of INVEGA Zita Gurauskienė. According to her words Šiaulių bankas’ example should become the great stimulus to start the lending of the apartment-house modernization and to other credit companies, so, this process really gains momentum.

The total portfolio of INVEGA’s guarantees for this facility‘s implementation reaches LTL 70 million. The INVEGA’s guarantees to the credit companies reach up to 80 per cent of all the loan amount, and the maximum amount of guarantees can reach up to LTL 1.5 million. According to the facility of the apartment-house modernization the INVEGA’s guarantees will be rendered by December 31st 2009.