VIPA grants subsidised loans for renovation (modernisation) of multi-apartment buildings according to the programme approved by the Government of the Republic of Lithuania, the aim of which is to reduce thermal energy costs, to rationally use energy resources, to ensure effective use of housing, to improve the living environment and the quality of life of residents.
Financial instruments for infrastructure were put into action in Lithuania with the aim to renovate (modernise) multi-apartment buildings. In 2009, JESSICA Holding Fund (JESSICA HF) was set up which is operated by the European Investment Bank, and VIPA was assigned a financial intermediary. Based on the success in implementing JESSICA HF and having measured all advantages of financial instruments, the decision was made to expand the application of financial instruments in the period from 2014 to 2020 and using the allocations of the 2014-2020 EU structural funds the Fund for Modernisation of Multi-apartment buildings (hereinafter referred to as the (DNMF) was established which is designated to meet the dramatically increased demand and ensure the continued funding of projects on modernisation of multi-apartment buildings. Given the fact that the interest in renovation of multi-apartment buildings has remained considerable, on 10 May 2017, VIPA signed an agreement with the European Bank for Reconstruction and Development so as to further ensure the continuity of the process.
Facts and figures:
- From 2013 until the 27th of March 2015 renovation of multi apartment buildings was funded through 2007-2013 JESSICA initiative.
- From the 27th of March 2015 renovation of multi apartment buildings is funded through newly established Multi apartment building modernization fund (DNMF). Funds for the renovation are provided as soft loans.
- DNMF was established by the agreement between the Ministry of Finance, the Ministry of Environment and Public Investment Development Agency (VIPA).
- DNMF is a part of 2014-2020 European Regional Development Fund and manages 74 million euros.
- On 10 May 2017, VIPA signed an agreement with the European Bank for Reconstruction and Development so as to further ensure the continuity of the process.
For more details contact: tel. +370 8 5 203 46601 daugiabuciai@vipa.lt