TGS Baltic represented the European Investment Bank on signing an exclusive deal with Šiaulių bankas for the establishment and management of a EUR 200 million renovation fund

31.12.2020 TGS Baltic represented the European Investment Bank on signing an exclusive deal with Šiaulių bankas for the establishment and management of a EUR 200 million renovation fund

Šiaulių bankas signed an agreement with the European Investment Bank (EIB) for the establishment and management of a EUR 200 million renovation fund for multi-apartment buildings.

The Fund will be able to finance the renovation and modernisation of up to 800 multi-apartment buildings in Lithuania.

This is an exceptional agreement and the first of its kind in Europe. Our team led by the firm’s Managing Partner Vilius Bernatonis and Senior Associate Eglė Neverbickienė have been working on this deal from the very beginning. Associate Partners Karina Andriukaitienė, Mantas Gofmanas and Senior Associate Karolina Lapinskaitė also contributed to this project.

Šiaulių bankas is a leader in the renovation market (60% market share) with more than 9-year participation in modernisation of multi-apartment buildings programs and cooperation with the EIB.