Lithuania bags €150m for energy efficiency

The European Investment Bank (EIB) has launched a €150 million (£108m) fund to boost energy efficiency in Lithuania. The project called ‘Jessica II’ is expected to help cut energy bills in hundreds […]

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The European Investment Bank (EIB) has launched a €150 million (£108m) fund to boost energy efficiency in Lithuania.

The project called ‘Jessica II’ is expected to help cut energy bills in hundreds of Lithuanian multi-apartment buildings.

It follows on the success of the project’s first phase, which has seen up to 250 buildings refurbished. Around 1,000 buildings are currently undergoing works.

EIB’s Vice President Pim van Ballekom said: “The Jessica II fund will help create new jobs and lower CO2 emissions, meanwhile allowing thousands of people to refurbish their houses and cut energy bills.”

The EIB also loaned €300 million (€216m) to Lithuania to invest in communications, energy, sustainable transport infrastructure and rural development.