In mid 2010, the European Investment Bank (EIB) signed the agreements with two commercial banks in Lithuania in order to start the implementation of the new funding scheme supported by the JESSICA Instrument. The JESSICA Holding Fund of the Lithuanian government was launched in June 2009 in order to use the EU Structural Funds for energy efficiency projects more effectively and to reduce the energy consumption of residential buildings in Lithuania. This one of the largest and one of the first JESSICA Holding Fund is managed by the EIB, the Ministry of Finance and the Ministry of Environment of Lithuania and has an initial capital of 227 million EUR. The Fund will be used as long term loans with fixed interest rate (3%) for the improvement of energy efficiency in multifamily buildings.
The Lithuanian Government also supports the preparation of technical documentations and the supervision of construction works with financial support of 50 % of the costs. Precondition is that after the renovation the building achieves the D class according to Energy Performance Certification classification. If the building demonstrates C class – 15 % state support for energy efficiency measures is foreseen. The Lithuanian government also will provide a support of 100 % for low income families.
Please find here more about the new financial model and its implementation: program website (LT)