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  • Contact us
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  • About VIPA
    • Governance
    • VIPA Covid-19 aid
  • News
  • Services
    • Loans for solar power plat installation
    • Loans for the renewal and development of higher education and vocational training infrastructure
    • PROJECT IDEAS
    • Renovation of Multi-Apartment Buildings
    • Energy Efficiency Financing Platform
    • Energy efficiency fund
    • Municipalities Buildings Fund
    • Cultural Heritage Fund
    • Water supply and wastewater fund
    • Municipality Grants
    • Repayable assistance
  • For Investors
    • National Promotional Institution
    • TIPS Investment Platform
    • Articles & Reports
    • Governance
  • INTERNATIONAL PROJECTS
    • Three Seas Initiative Investment Fund
    • Project for the development of pricing for loans and guarantees
    • PROJECT POWERTY
    • HORIZON 2020 PROJECT TRIPLE-A
    • HORIZON 2020 PROJECT CITIZEE
    • BUILD2LC PROJECT
    • PROJECT GUARANTEE
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  • 2022 05 30

    Internal auditors of national promotional institutions from 7 European countries share experiences at VIPA hosted event

    On 26 May, internal auditors from national promotional institutions of the Three Seas Initiative (3SI) region countries visited VIPA. The visit was one of the events aimed at developing communication, sharing experiences, and insights among the institutions representing the 3JI member states. This is the 4th and first Lithuania meeting of the cooperation network of […]

  • 2022 04 07

    VIPA and eeef: Sustainable Investing at Work – How it Looks in Practice

    The European Energy Efficiency Fund (eeef) presents the first podcast on sustainable investments. The host Rahul Pratap Singh, eeef Investment Manager and special guest Asta Gladkauskienė, head of the Private Clients Department at VIPA, discuss the issues of energy efficiency project implementation and financing possibilities of the investment platform ‘Promotion of Sustainable Resource Development’ (TIPS), […]

  • 2022 03 17

    Sustainable Resources Development platform – JV of VIPA and eeef- will allocate 2.4 million euros for the development of the solar plant in Lithuania

    In January 2022  a solar plant development in Grikapalis in Lithuania loan agreement was signed with UAB Solarbank. Compared to the most modern gas-fired power plant in Lithuania, this solar plant will save 1 478 tons of CO2 equivalent per year by producing the same amount of electricity, and thus contributing to avoid the effects […]

  • 2022 02 07

    New Funding Opportunities for Sustainable Energy Projects

    A new investment platform “Tvarių išteklių plėtros skatinimas” (TIPS) (English: Promoting Sustainable Resource Development) for the funding of sustainable energy projects has been launched in Lithuania. The capital of this funding platform established by UAB Viešųjų investicijų plėtros agentūra (VIPA) (English: Public Investment Development Agency) in cooperation with the investment company European Energy Efficiency Fund […]

  • 2022 01 31

    Launch of a Single National Funder to Open up a New Level of Opportunities for the Development of Lithuania’s Public and Private Sector

    On 26 January, the ministerial meeting approved the consolidation of national promotional institutions (NPI) and provided further steps towards this objective. The ministers agreed to consolidate the following currently operating national promotional institutions: UAB Investicijų ir Verslo Garantijos (INVEGA), UAB Viešųjų Investicijų Plėtros Agentūra (VIPA), UAB Valstybės Investicijų Valdymo Agentūra (VIVA), UAB Žemės Ūkio Paskolų […]

  • 2022 01 12

    VIPA 2021 Year in Review

    <!doctype html>   Dear colleagues and partners, Thank you for a wonderful year and sincere cooperation in 2021. We can rejoice over the sustainable development of VIPA all together: we have successfully implemented the already started projects and created new ones, increased the scope of funding and created added value for Lithuania and its people. […]

  • 2021 12 31

    New VIPA’s organizational structure – for long-term development of operations

    The organizational structure of UAB Viešųjų Investicijų Plėtros Agentūra (VIPA) was updated in the first half-year of 2021. VIPA’s structural changes were initiated and implemented in accordance with the project “Support for the Organizational Capacity Building to the Public Investment Development Agency of Lithuania” funded by the European Commission’s Directorate-General for Structural Reform Support. The […]

  • 2021 12 22

    The first educational institution infrastructure project funded by VIPA has been implemented – a new building at the SMK is about to open for students in Kaunas

    The opening ceremony of the new building for the Kaunas campus of the College of Social Sciences was held on 17 December. The project was funded with capital from the Public Investment Development Agency (VIPA) under the measure “Renovation and Development of Higher Education and Vocational Training Infrastructure (Buildings)”. VIPA issued a loan of EUR […]

  • 2021 11 10

    VIPA presents a new financial instrument for the development of free economic zones, industrial parks and other industrial areas

    On 10 November 2021, UAB Viešųjų Investicijų Plėtros Agentūra (Public Investment Development Agency or VIPA) and the Ministry of Economy and Innovation of the Republic of Lithuania signed an agreement on the establishment and financing of the financial incentive measure “Installation of Typical Production Buildings in Free Economic Zones, Industrial Parks and Other Industrial Territories”. […]

  • 2021 10 11

    VIPA has established an investment platform for financing sustainable projects together with the European Energy Efficiency Fund

    UAB Viešųjų Investicijų Plėtros Agentūra (VIPA) invested in the limited partnership Tvariųjų Išteklių Plėtros Skatinimas (TIPS) (English: Promoting Sustainable Resource Development) together with the European Energy Efficiency Fund (EEEF) the main purpose of which is to finance sustainable investments, contributing to the mitigation of direct consequences of climate change. The new investor EEEF has invested […]

  • 2021 09 24

    The signing of the 1000th agreement on the renovation (modernization) of multi-apartment buildings

    On 23 September 2021, the 1000th agreement on the renovation (modernization) of multi-apartment buildings was signed by VIPA and UAB Utenos Butų Ūkis. Since 2013, VIPA has been disbursing loans for renovation (modernization) of multi-apartment buildings under the programme approved by the Government of the Republic of Lithuania, the aim of which is to reduce […]

  • 2021 08 04

    The European Bank for Reconstruction and Development has supported the improvement of energy efficiency in multi-apartment residential buildings in Lithuania

    The European Bank for Reconstruction and Development (EBRD) granted to UAB Viešųjų investicijų plėtros agentūra (VIPA) a loan of EUR 67.5 million to finance projects for the improvement of energy efficiency of multi-apartment residential buildings. The received EBRD loan will be used to finance projects of renovation of multi-apartment buildings that are already being implemented […]

  • 2021 02 01

    Lithuania has joined the Three Seas Initiative Investment Fund

    UAB Viešųjų Investicijų Plėtros Agentūra (VIPA) representing the state of Lithuania on behalf of the Government of the Republic of Lithuania has committed to invest EUR 20 million in the Three Seas Initiative (hereinafter – 3SI) Investment Fund (hereinafter – 3SIIF) and became its full-fledged member. The President of the Republic of Lithuania Gitanas Nausėda […]

2021 08 04

The European Bank for Reconstruction and Development has supported the improvement of energy efficiency in multi-apartment residential buildings in Lithuania

The European Bank for Reconstruction and Development (EBRD) granted to UAB Viešųjų investicijų plėtros agentūra (VIPA) a loan of EUR 67.5 million to finance projects for the improvement of energy efficiency of multi-apartment residential buildings. The received EBRD loan will be used to finance projects of renovation of multi-apartment buildings that are already being implemented under the Multi-Apartment Building Renovation (Modernization) Programme approved by the Government. This is the second loan which the EBRD has disbursed to VIPA, establishing a successful cooperation between the two institutions in financing green projects.

On 4 August, UAB Viešųjų Investicijų Plėtros Agentūra (VIPA) signed an agreement with the European Bank for Reconstruction and Development (EBRD) on the basis of which a loan for up to EUR 67.5 million was issued for the renovation of multi-apartment buildings in Lithuania. This loan will provide an opportunity to finance the renovation of about 170 multi-apartment buildings, which not only will speed-up the renovation in the country, but will also significantly improve the conditions of living of residents of renovated multi-apartment buildings.

Renovation of multi-apartment buildings is a priority energy efficiency measure in Lithuania, directly related to the majority of the country’s population. According to calculations, there are about 40 000 multi-apartment buildings, about 80 percent of which are in the lowest building energy efficiency class. Poor energy performance of these buildings results in significant losses of heat, which in turn leads to high apartment maintenance costs. Some residents, who cannot afford them, refer to state or municipal institutions for help. Renovation of multi-apartment buildings is not only a way to reduce apartment maintenance costs, but also an opportunity to improve the state of the building. It is also an effective instrument for reducing energy poverty and a key tool in building sustainable cities. Investments in the renovation of multi-apartment buildings create a sustainable and harmonious living environment, therefore, the need for investments in this sector will only increase in the long run, in pursuit of achieving the goals of the green course and the renovation wave strategy.

“This investment by the European Bank for Reconstruction and Development is a uniquely structured loan simultaneously financing many projects for the renovation of multi-apartment buildings. We also aim to rely on the experience gained in other countries,” said Nandita Parshad, CEO of the Sustainable Infrastructure Group of the EBRD.

The Ministry of Finance of the Republic of Lithuania and the Ministry of Environment of the Republic of Lithuania also approved the signing of the loan, as the involvement of such international financial institutions as the EBRD in the Lithuanian multi-apartment building renovation programme further enhances the country’s credibility in the eyes of investors.

The Vice Minister of Finance Vaida Česnulevičiūtė says that “this is an important investment in the energy efficiency of buildings in Lithuania, which not only reduces costs incurred by residents, but also helps to implement the goals of transition to a green economy and contributes to combating climate change. We are pleased with the cooperation with the European Bank for Reconstruction and Development and the opportunities it offers to Lithuania.”

To the best of the knowledge of the Vice Minister of the Environment Darius Kvedaravičius, currently there are about 1 500 projects for the renovation of multi-apartment buildings under implementation in Lithuania, the total investment value of which exceeds EUR 600 million. The completion of a third of these projects is scheduled in 2021. The plan is to increase the pace of building renovation, which has led to a comprehensive review of the current processes, introducing innovative technologies that will speed up the course of construction works and ensure a better quality of work.

“The funds raised under this financing agreement will be used to finance the projects that have already been prepared. Moreover, the cooperation with a highly rated financial institution, the European Bank for Reconstruction and Development, demonstrates confidence in the Lithuanian multi-apartment building renovation model and the state support scheme, which the European Commission has recognized as an example of good practice. We hope that this loan will encourage other private local and international investors to participate in the programme for the renovation of multi-apartment buildings, while ensuring its continuity and sustainability,” said the Vice Minister.

Since 2013, VIPA has participated in financing schemes for the renovation (modernization) of multi-apartment buildings and this is already the second loan granted by the EBRD to VIPA for the renovation of multi-apartment buildings in Lithuania.

“We are delighted with our long-term partnership with the European Bank for Reconstruction and Development. The Multi-Apartment Building Modernization Fund managed by VIPA has been designed to ensure stable financing of multi-apartment building modernization projects, and this second EBRD loan helps us to continue to successfully pursue this important goal for the people of Lithuania,” says Gvidas Dargužas, CEO of VIPA.

The European Bank for Reconstruction and Development has supported the improvement of energy efficiency in multi-apartment residential buildings in Lithuania

The European Bank for Reconstruction and Development (EBRD) granted to UAB Viešųjų investicijų plėtros agentūra (VIPA) a loan of EUR 67.5 million to finance projects for the improvement of energy efficiency of multi-apartment residential buildings. The received EBRD loan will be used to finance projects of renovation of multi-apartment buildings that are already being implemented under the Multi-Apartment Building Renovation (Modernization) Programme approved by the Government. This is the second loan which the EBRD has disbursed to VIPA, establishing a successful cooperation between the two institutions in financing green projects.

On 4 August, UAB Viešųjų Investicijų Plėtros Agentūra (VIPA) signed an agreement with the European Bank for Reconstruction and Development (EBRD) on the basis of which a loan for up to EUR 67.5 million was issued for the renovation of multi-apartment buildings in Lithuania. This loan will provide an opportunity to finance the renovation of about 170 multi-apartment buildings, which not only will speed-up the renovation in the country, but will also significantly improve the conditions of living of residents of renovated multi-apartment buildings.

Renovation of multi-apartment buildings is a priority energy efficiency measure in Lithuania, directly related to the majority of the country’s population. According to calculations, there are about 40 000 multi-apartment buildings, about 80 percent of which are in the lowest building energy efficiency class. Poor energy performance of these buildings results in significant losses of heat, which in turn leads to high apartment maintenance costs. Some residents, who cannot afford them, refer to state or municipal institutions for help. Renovation of multi-apartment buildings is not only a way to reduce apartment maintenance costs, but also an opportunity to improve the state of the building. It is also an effective instrument for reducing energy poverty and a key tool in building sustainable cities. Investments in the renovation of multi-apartment buildings create a sustainable and harmonious living environment, therefore, the need for investments in this sector will only increase in the long run, in pursuit of achieving the goals of the green course and the renovation wave strategy.

“This investment by the European Bank for Reconstruction and Development is a uniquely structured loan simultaneously financing many projects for the renovation of multi-apartment buildings. We also aim to rely on the experience gained in other countries,” said Nandita Parshad, CEO of the Sustainable Infrastructure Group of the EBRD.

The Ministry of Finance of the Republic of Lithuania and the Ministry of Environment of the Republic of Lithuania also approved the signing of the loan, as the involvement of such international financial institutions as the EBRD in the Lithuanian multi-apartment building renovation programme further enhances the country's credibility in the eyes of investors.

The Vice Minister of Finance Vaida Česnulevičiūtė says that “this is an important investment in the energy efficiency of buildings in Lithuania, which not only reduces costs incurred by residents, but also helps to implement the goals of transition to a green economy and contributes to combating climate change. We are pleased with the cooperation with the European Bank for Reconstruction and Development and the opportunities it offers to Lithuania.”

To the best of the knowledge of the Vice Minister of the Environment Darius Kvedaravičius, currently there are about 1 500 projects for the renovation of multi-apartment buildings under implementation in Lithuania, the total investment value of which exceeds EUR 600 million. The completion of a third of these projects is scheduled in 2021. The plan is to increase the pace of building renovation, which has led to a comprehensive review of the current processes, introducing innovative technologies that will speed up the course of construction works and ensure a better quality of work.

"The funds raised under this financing agreement will be used to finance the projects that have already been prepared. Moreover, the cooperation with a highly rated financial institution, the European Bank for Reconstruction and Development, demonstrates confidence in the Lithuanian multi-apartment building renovation model and the state support scheme, which the European Commission has recognized as an example of good practice. We hope that this loan will encourage other private local and international investors to participate in the programme for the renovation of multi-apartment buildings, while ensuring its continuity and sustainability,” said the Vice Minister.

Since 2013, VIPA has participated in financing schemes for the renovation (modernization) of multi-apartment buildings and this is already the second loan granted by the EBRD to VIPA for the renovation of multi-apartment buildings in Lithuania.

“We are delighted with our long-term partnership with the European Bank for Reconstruction and Development. The Multi-Apartment Building Modernization Fund managed by VIPA has been designed to ensure stable financing of multi-apartment building modernization projects, and this second EBRD loan helps us to continue to successfully pursue this important goal for the people of Lithuania,” says Gvidas Dargužas, CEO of VIPA.

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