TGS Baltic has been selected as legal advisor to the European Investment Bank on Lithuania’s multi-apartment building modernization. The agreement between the EIB and TGS Baltic was signed for a period of two years.
According to TGS Baltic, "the EIB and TGS Baltic have been cooperating on issues of sustainable investments into urban territories for over a decade – from the time when the EIB started the implementation of the JESSICA I program in Lithuania in 2009. Later, in 2017, the law firm was advising on implementation of the Jessica II Fund of Funds financial engineering instruments and creation of the Leveraged Fund under this fund for energy efficiency increasing projects."
Since the beginning of the modernization project, financing from EU structural funds was used to renovate 2,348 multi-apartment houses in Lithuania.