European Investment Bank (EIB) to attract private resources into residential energy efficiency renovation via the Lithuanian Leveraged Fund.
The Lithuanian Leveraged Fund, a government funded guarantee scheme, will support energy efficiency investments to cut energy bills in thousands of Lithuanian residences. The scheme, funded with EUR 100 million of EU Structural and Investment Funds and national resources, will maximise the funds available for the “Multi-apartment Building Modernisation Programme”.
Under the terms of the Programme, the fund will enable banks to increase their lending boosting its scale and outreach across the country. Until 2023, it is expected that the scheme will generate bank lending of up to EUR 500 million for modernisation loans and enable the modernisation of up to 32,500 apartments in nearly 1,500 multi-apartment buildings, multiplying the available public resources five times.
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