BAKU, Azerbaijan, December 12. The Lithuanian government has partnered with the European Investment Bank (EIB) to launch a 100 million euro initiative aimed at renovating over 700 apartment buildings across the country, including in Vilnius, TurkicWorld reports.
The project seeks to mobilize up to 625 million euros for improving housing energy efficiency, lowering household energy costs, and reducing emissions.
Under the agreement with the Ministries of Finance and Environment, the EIB will manage 100 million euros from EU funds. This initiative supports the EU’s broader goals of enhancing energy efficiency and sustainability in housing.
EIB Vice-President Thomas Östros emphasized the project’s dual benefits: "This initiative reinforces our commitment to improving living standards and energy efficiency in Lithuania. It enhances energy independence while reducing emissions and energy bills for consumers".
Finance Minister Gintarė Skaistė highlighted the government’s long-term collaboration with the EIB to improve housing quality: "Through trilateral cooperation, we will not only enhance energy efficiency but also reduce energy costs and taxes for residents".
The EIB has financed the renovation of over 3,300 buildings in Lithuania, benefiting 83,000 households with 1.4 billion euros in investments.
