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Modernization of multifamily buildings in Lithuania by using JESSICA financial instrument

In mid 2010, the European Investment Bank (EIB) signed the agreements with two commercial banks in Lithuania in order to start the implementation of the new funding scheme supported by the JESSICA Instrument. The JESSICA Holding Fund of the Lithuanian government was launched in June 2009 in order to use the EU Structural Funds for energy efficiency projects more effectively and to reduce the energy consumption of residential buildings in Lithuania. This one of the largest and one of the first JESSICA Holding Fund is managed by the EIB, the Ministry of Finance and the Ministry of Environment of Lithuania and has an initial capital of 227 million EUR. The Fund will be used as long term loans with fixed interest rate (3%) for the improvement of energy efficiency in multifamily buildings.

Source: EIB, (Click to enlarge)

The Lithuanian Government also supports the preparation of technical documentations and the supervision of construction works with financial support of 50 % of the costs. Precondition is that after the renovation the building achieves the D class according to Energy Performance Certification classification. If the building demonstrates C class – 15 % state support for energy efficiency measures is foreseen. The Lithuanian government also will provide a support of 100 % for low income families.

Please find here more about the new financial model and its implementation: program website (LT)

 

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News and Updates

June 2011
The BEENetwork Newsletter is available for downloading.

June 2011
The BEENetwork Flyer is available in English and German language.

May 2011
Residents will get additional support for refurbishment of multifamily buildings in Lithuania. more

April 2011
New European Energy Efficiency Facility to finance sustainable energy at the local and regional level. more

March 2011
On 8th March 2011, the European Commission published the new Energy Efficiency Plan (EEP). more

February 2011
State grants for the renovation of apartment buildings in Estonia. more

 

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