NIB loan to help increase energy efficiency of buildings in Lithuania
(Thomson Reuters ONE) - A new loan agreement between the Nordic Investment Bank (NIB) and theRepublic of Lithuania will secure funds for improving the energyefficiency of buildings in the country's public and private sectors.The loan with a 20-year tenor totals EUR 100 million. The financingwill be allocated to Lithuania's Ministry of Finance, whose role willbe to redistribute the funds to individual projects aimed atrenovating and modernising public buildings and apartment houses.The programme of upgrading public buildings is set to help saveheating energy at the universities in the country's three largestcities-Vilnius, Kaunas and Klaipeda-as well as in high schools,libraries, district courts, theatres, museums, hospitals, clinics,police stations and the offices of the national road administration.The project envisages the reconstruction and renovation of 39buildings with a total area of 230,000 square metres.The NIB financing will also be used for increasing the energyefficiency of more than 300 private apartment buildings with a totalarea of 0.9 million square metres. This part is being implementedaccording to the national housing strategy aimed at upgrading theengineering infrastructure of existing apartment buildings."This project contributes to a more efficient use of energy. It helpsto reduce the need for energy and leads to a reduction in greenhousegas emissions in Lithuania. It is a good example of an environmentalinvestment that also supports the economy during difficult times,"says Johnny ÿkerholm, NIB President and CEO.The renovation of buildings built in Lithuania before 1992 isnecessary to reduce the consumption of energy used for heating.Currently, the country uses about 40% of all energy consumed inLithuania for heating. According to the national authorities, thebuilding sector has the largest potential of reducing its energyneeds when compared to the other sectors of the Lithuanian economy.The Nordic Investment Bank is the common international financialinstitution of the eight Nordic and Baltic countries. NIB provideslong-term financing to the energy, environmental, transport,logistics and communications, and innovation sectors for projectsthat strengthen competitiveness and enhance the environment. NIB hasthe highest possible credit rating, AAA/aaa, with the leading ratingagencies Standard & Poor's and Moody'sFor further information, please contactVilius Girkontas, Senior Manager Origination, at +358 10 618 0240,vilius.girkontas(at)nib.intDimitrijs Alehins, Communications Specialist, at +358 10 618 0296,dimitrijs.alehins(at)nib.intThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 09.12.2009 - 15:10 Uhr
Sprache: Deutsch
News-ID 9448
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