Praelegal Lithuania Partner Assisted To Lithuania’s Public Investment Development Agency (VIPA) On Loan Agreement With The EBRD

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Stašaitis & Partners law office assisted to Lithuania’s Public Investment Development Agency (VIPA) on loan agreement with the European Bank for Reconstruction and Development (EBRD)

 

The team of Stašaitis & Partners law office members consisted of Managing Partner Žilvinas Stašaitis, Partner Mindaugas Šeškauskis and Associate Eglė Pranskūnienė represented the Lithuania’s Public Investment Development Agency on the matter regarding the energy saving investment contract to borrow 50 million EUR from European Bank for Reconstruction and Development.

As General Manager of Lithuania’s Public Investment Development Agency, Mr. Gvidas Dargužas stated “Extending the financing of this program  is of prime importance for the Republic of Lithuania as it will speed up multi-apartment building renovation processes and allow to grow the numbers of those who will  renovate their multi-apartment buildings and lower their heating costs. In order to meet the demand, VIPA will take all reasonable measures to attract further financing”.

According to Stašaitis & Partners law office Managing Partner, Advocate Žilvinas Stašaitis “this agreement is part of VIPA multi-apartment building modernization program in Lithuania. Agreeing with EBRD to provide this loan, will provide EBRD the unique possibility of investment in the energy consumption efficiency project in Lithuania and will allow VIPA to extent multi-apartment building renovation processes and improve the living conditions for the residents of the renovated buildings”.

 

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