Lithuania to Generate up to EUR 500 Million for Energy Efficiency with EIB

European Investment Bank (EIB) to attract private finance into residential energy efficiency modernisation via a guarantee scheme funded by the Lithuanian Government.

The Lithuanian Leveraged Fund, a guarantee scheme funded with EUR 100 million of EU Structural and Investment Funds and national resources, comes in support of energy efficiency investments to cut energy bills in thousands of Lithuanian homes. The structure will maximise the funds available for the “Multi-apartment Building Modernisation Programme”, a key government priority with national and municipal backing.

Minister of Environment Kęstutis Trečiokas said: “Renovation is an area that yields stunning results and its positive changes can be felt by almost everyone. After refurbishing their houses, hundreds of thousands of Lithuanian residents enjoy nicer surroundings and, I have no doubt, are happier. I am very glad that along with the reduction in energy consumption in the renovated houses, CO2 emissions have decreased significantly as well. In the renovated buildings, more than 40% of the energy used for heating is saved, which is yet another step towards the preservation of the environment and a rational consumption of natural resources.”