Šiaulių Bankas signed an agreement with the European Investment Bank (EIB) to set up and manage a second EUR 200 million renovation fund
14 Februar 2024 - 3:00PM
UK Regulatory
Šiaulių Bankas signed an agreement with the European Investment
Bank (EIB) to set up and manage a second EUR 200 million renovation
fund
On 13 February 2024, Šiaulių Bankas signed an agreement with the
EIB to amend the 2020 operational contract for the Multi-apartment
Building Renovation Fund, committing to set up and manage a second
EUR 200 million multi-apartment building renovation fund.
The second Multi-apartment Building Renovation
Fund is planned to finance the renovation (modernisation) of around
300 multi-apartment buildings in Lithuania. Around 11,000
households would benefit from the changes. The bank is already
negotiating with potential investors in the new fund.
The first €275 million "SB Modernisation Fund"
was established in 2022, has been successfully disbursed and has
already financed the renovation of 395 apartment buildings.
Šiaulių Bankas has a 65% share in the Lithuanian
multi-family modernisation financing market and has been involved
in multi-family modernisation programmes in cooperation with the
EIB for over 12 years. During this period, more than EUR 1 billion
of modernisation loans have been disbursed and more than 2,800
multi-apartment buildings modernisation projects have been
financed.
Additional information:
Tomas Varenbergas
Head of Investment Management Division
tomas.varenbergas@sb.lt
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