In Jordan – Gold to Lithuania


2018 05 10

VIPA 1.jpg

Today, at the annual summit of the European Bank for Reconstruction and Development (hereinafter – EBRD) Lithuania was awarded a gold medal in environmental and social innovation for the project for renovation of multi-apartment buildings.

“At the annual summit of business leaders the name of Lithuania has been mentioned for many times. It is good to take a pride in the achievements of our country. This evaluation is significant not only for gold. This is a huge stimulus to go further forwards. Investment to the renovation of multi-apartment buildings means more comfortable, warmer homes, lower heating bills and, primarily, a cleaner country for all of us”, said Minister of Finance Vilius Šapoka.

This green project is in line with the EBRD strategy to secure the goals of transition to a green economy and mitigation of the effects of climate change. Old, unmodernised multi-apartment buildings is one of the factors mostly contributing to the quantity of CO2 emission.

“This is the first such investment of the EBRD for Lithuania to energy consumption efficiency of the buildings. The reward is a serious recognition of the financial community to Lithuania. This demonstrates a confidence in our country and it allows to look bolder for investors abroad”, said Director General of the Public Investment Development Agency (hereinafter - VIPA) Gvidas Dargužas.

The loan received from the EBRD in the amount of EUR 50 million has been successfully invested –140 multi-apartment buildings will be renovated and improved living conditions for more than 6, 000 residents of multi-apartment buildings in the entire Lithuania.

Continuing this strand, further investments are made to the renovation of multi-apartment buildings. Two weeks ago the Government granted the loan to VIPA by issuing securities – green bonds. The funds generated from securities will be designated for modernisation of multi-apartment buildings and energy efficiency enhancement.