TGS Baltic client, the European Investment Bank (EIB), the long-term lending institution of the European Union, owned by its Member States, is partnering with the Lithuanian Government on a €100 million initiative to renovate over 700 apartment buildings across the country.
The EIB will be responsible for administering EU funding under an agreement with the Ministries of Finance and Environment. The initiative supports the EU’s goal for greater energy efficiency in housing and will help Lithuania upgrade homes for thousands of families. It will lead to lower energy bills for households and less greenhouse gas emissions from buildings.
This new agreement is a model for how investment and partnerships can address housing and energy challenges. By leveraging investments and maximising EU Structural Funds, it aligns Lithuania’s priorities with European goals for sustainability and energy independence.
This transaction marks the next step in a long-term initiative, with plans to allocate up to 625 MEUR for the renovation of multi-apartment buildings, by way of leveraging public funds and participation of private investors.
The TGS Baltic lawyers – Vilius Bernatonis and Sebastian Okinczyc – advised the EIB in negotiating and signing the new funding agreement.
