Construction, EU – Baltic States, Financial Services, Investments, Lithuania, Real Estate

In its statement, the Ministry of Environment said that Swedbank has begun concluding credit agreements again, thanks to joint efforts of the Ministry of Environment and the Ministry of Finance. A new financial intermediation contract will be signed with Siauliu Bankas next week and in the nearest future investment projects of the Public Investment Development Agency (VIPA) and the Central Project Management Agency (CPVA) will be financed.

Deputy Environment Minister Daiva Matoniene says the construction sector has concluded renovation contracts worth a staggering amount of EUR 240 million. According to her, construction companies must make every effort to ensure the quality of renovation of blocks of flats and complete it in time.

The deputy environment minister says the acceleration of renovation is highly beneficial not only to the construction sector but to Lithuania's economy on the whole. The growing number of blocks of flats to undergo renovation means that more jobs will be created.

According to the Housing Energy Efficiency Agency (BETA), 1,280 blocks of flats are being renovated at the moment. Their total renovation cost accounts for 10 percent of the total turnover of construction contracts in 2014, which amounted to EUR 2.66 billion.