VIPA: Renovation is the new Lithuanian fashion

Through the ERDF-powered multi-apartment buildings modernisation fund, the Lithuanian Public Investment Development Agency (VIPA) was able to finance the renovation of 800 multi-apartment buildings since 2015, making them more sustainable and energy efficient.

These investments helped to improve the living conditions of over 28 000 households, collectively saving 257 GWh of energy per year.

Watch this Showcase 2023 video submission to find out more!

Video file
Submitting organisation: 
Public Investment Development Agency (VIPA)

Type of authority: 
Manager of financial instrument / National Promotional Institution

Financial instrument name: 
Multi-Apartment Buildings Modernisation Fund		Funding source: 
ERDF

Type of financial product: 
Loans

Financial size:
EUR 74 million of ERDF contribution + EUR 353 million raised additional funding from the market (total EUR 427 million)
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