The European Investment Bank has made amendments to its pre-financing and contingent loan agreements with Siauliu Bankas, increasing the bank’s investment from EUR 195 million to EUR 255 million for Lithuania’s multi-apartment building modernization program.
According to the TGS Baltic law firm, which advised EIB, Siauliu Bankas has been active in financing these renovation projects for over 12 years, and has helped renovate more than 3,000 buildings with a total loan volume exceeding EUR 1.2 billion. The additional EUR 60 million in funding is designed to further support Lithuania’s goal of modernizing most of its multi-apartment buildings by 2050, reducing energy consumption and improving living conditions.