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 consumption of heat energy, rationally use energy resources, ensure efficient use of apartments, and improve the living environment and quality of life of residents.
During nearly 8 years of VIPA’s activities, VIPA has provided soft loans from the JESSICA fund for EUR 29.8 million, and later, as from 2015, it used the Multi-Apartment Building Modernization Fund (hereinafter – MBMF) established together with the Ministry of Finance of the Republic of Lithuania and the Ministry of Environment of the Republic of Lithuania to disburse loans, having invested therein EUR 74 million from the European Structural and Investment Funds Programme 2014-2020. Another EUR 353 million were raised to the MBMF from other sources. In order to secure funding opportunities for renovation of multi-apartment buildings, VIPA has cooperated with such partners as the European Bank for Reconstruction and Development and the Council of Europe Development Bank.
The signing of the 1000th agreement on the renovation (modernization) of multi-apartment buildings is a symbolic step, demonstrating the experience which VIPA gained in financing projects for the renovation (modernization) of multi-apartment buildings. The purpose of VIPA is to contribute to the measures implemented to mitigate climate change and to increase energy efficiency in objects of public infrastructure (or public interest) through the conducted activities and provided funding.
VIPA has signed agreements for the renovation (modernization) of multi-apartment buildings for almost 383 million euros.