EBRD Allocates €25 Million to SB Modernizavimo Fondas 2 for Sustainable Buildings Renovations in Vilnius

The Ellex team has assisted The European Bank for Reconstruction and Development (EBRD) in providing a €25 million loan to Šiaulių Bankas SB Modernizavimo Fondas 2. SB Modernizavimo Fondas 2, managed by Šiaulių Bankas, operates as a specialized fund to finance energy efficiency investments in residential multi-apartment buildings in Vilnius, Lithuania, in collaboration with Swedbank and the European Investment Bank.

The renovations facilitated by the EBRD investment will enhance the energy performance of the buildings, thereby contributing to a reduction in carbon emissions. This initiative addresses one of Vilnius’s priorities outlined in the Green City Action Plan, which the city is developing through its participation in the EBRD Green Cities program. Vilnius holds the distinction of being the first city in the Baltic states to join this program.

Furthermore, these upgrades will support the Lithuanian government’s goal of accelerating the pace of residential building renovations to advance Lithuania’s transition to a green economy.

Ellex Valiunas, with Associate Partner Eglė Neverbickienė leading the effort, assists our client throughout this process.