The Lithuanian government on Wednesday established an energy efficiency fund with 80 million euros earmarked for renovation of public buildings and street lighting.
© AM

Prime Minister Algirdas Butkevičius said that the fund would provide guarantees on bank loans for building renovation and street lighting modernization projects.

"That fund will focus on two main areas of activity: modernization of street lighting and renovation of public buildings. We hope that this will be a successful start to the implementation of the financial engineering instrument, which means that the fund's money will serve as a guarantee in taking out loans from commercial banks," he told reporters after the Cabinet's meeting.

The prime minister said that the implementation of new technologies could help reduce electricity consumption by half.

"These funds will be returned. By 2020, the fund has to accumulate and generate additional money from EU support. This means that by the end of 2020, we will have accumulated a considerable amount of money in that fund," he said.

According to the Ministry of Finance, the plan is to upgrade around 57,000 street lamps and renovate 400,000 square meters of public buildings by 2023.

Įvertink šį straipnį
Norėdami tobulėti, suteikiame jums galimybę įvertinti skaitomą DELFI turinį.
  • 1
  • 2
  • 3
  • 4
  • 5
(0 žmonių įvertino)
Leave a comment
or for anonymous commenting click here
By posting, you agree to terms
Read comments Read comments

Alternative lending in Baltics is taking market share from traditional banks and credit unions

In the ever-growing European alternative finance market, Lithuania - together with other Baltic...

Global supplier to mobility industry to open shared service centre in Lithuania

Dana Incorporated, a world leader in highly engineered solutions for improving the efficiency,...

Lithuanian organizations join forces to manage fintech risks

Nine Lithuanian entities agreed on Monday to cooperate in managing risks in the financial technology...

Clearer visions of the future in the strategic plans of the SOEs

An evaluation carried out by the Governance Coordination Centre , an institution promoting the good...

Earthport receives European Payment Institution license in Lithuania

The Lithuanian subsidiary of London-based cross-border payments facilitator Earthport (AIM: EPO) –...