On 7 May 2015, Lithuania and European Investment Bank (EIB) established JESSICA II fund. Furthermore, they signed an agreement on a EUR 1,3 billion loan facility.
JESSICA II agreement
Through the signed deal, some EUR 150 million from the 2014-2020 EU Structural and Investment Funds will be made available to the Lithuanian government's “Multi-apartment Building Modernisation Programme” - a key Government priority with national and municipal support, and international recognition.
The EUR 300m loan signed on 7 May is the first tranche of the EUR 1.3 billion facility and will be available as co-financing for selected projects under Lithuanian operational programmes for 2014–2020. The EU Structural Funds will meet a fixed percentage of the costs of eligible projects, with the remaining part being covered from the State budget or by drawing on the EIB facility. The loan will primarily support projects in the research, education and IT sectors, with financing also going to Lithuanian SMEs, climate change mitigation projects and employment programmes.
For further information, please visit the relevant EIB website.