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Before the end of 2017, VIPA aspires to become the National promotional bank (NPB), namely, a financial authority with the state’s mandate the aim of which is to promote long-term and sustainable investments in the areas that are strategically significant for the state through the help of financial instruments (giving subsidised loans, making risk capital investments) and to create a favourable climate for the implementation of such investments.

 

Through crowd funding investment platforms NPB will enable economic entities of the country to avail of the funding of the European Fund for Strategic Investments (EFSI) or the so-called Junker plan, and to also easier attract the funds of international financial institutions and private investors.

 

NPB will operate in those areas and sectors which demonstrate market deficiency, i.e. there is a lack of private investors and / or it is seen that the supply of funding is insufficient or the terms and conditions of commercial finding are unacceptable. The funded projects will have to contribute to the implementation of strategic goals specified in the state’s strategic documents.

 

VIPA will perform the functions of NPB in the areas of energy consumption efficiency, development of already urbanised or currently urbanised territories, renovation and expansion of housing and public infrastructure or objects of infrastructure intended to meet the public interest.

 

It is anticipated that by the end of this year the law and accompanying legislation regulating the NPB operation will be adopted on the basis of which VIPA would be granted this status.

 

Based on the assessment carried out, NPB could invest up to EUR 2,280 billion in different projects implemented in Lithuania in the period ending in 2023 alone.

 

NPB is already operating in a number of the EU countries, the biggest of which are as follows: the German KfW (Kreditanstalt fur Wiederaufbau), the French CDC (Caisse des Depots et Consignations), the Italian CDP (Casa Depositi e Prestiti), the Polish BGK (Bank Gospodarstva Krajowego). The neighbouring country Latvia has ALTUM.

                 

 

For more details contact: Justinas Bučys, tel. +370 5 203 4 664 j.bucys@vipa.lt and Renata  Padalevičiūtė tel. +370 5 203 4 680 r.padaleviciute@vipa.lt