The Kreda credit union group, administered by the United Central Credit Union (UCCU), has signed a strategic cooperation agreement with the European Investment Fund (EIF) to provide up to €70 million in financing for sustainable investment projects across Lithuania. The initiative will use EIF loan guarantees to improve access to affordable financing for individuals and small and medium-sized enterprises (SMEs).
Under the agreement, the EIF guarantees will support new loans of up to €8.25 million per beneficiary, helping reduce lending risks and enabling more favourable financing conditions. The programme is designed to accelerate investments that contribute to Lithuania’s green transition and long-term economic development.
The financing will support a broad range of sustainable projects, including renewable energy installations such as solar and wind power systems, energy-efficient building construction and renovation, heating system modernisation, low- and zero-emission vehicles, clean transport infrastructure, and green information technology solutions that improve industrial energy efficiency while reducing environmental pollution.
By expanding access to sustainable finance, the partnership aims to help businesses, homeowners, and local communities invest more quickly in climate-friendly technologies. These investments are expected to lower energy costs, strengthen business competitiveness, encourage innovation, and support the country’s environmental and climate objectives.
The new financing programme will complement the existing lending products offered by the Kreda credit union group, which focuses on serving individuals, SMEs, farmers, and regional communities throughout Lithuania.
The €70 million agreement demonstrates the European Investment Fund’s continued commitment to supporting sustainable investment across Europe. By improving access to green financing, the initiative will help accelerate Lithuania’s transition to a low-carbon economy while creating long-term economic and environmental benefits for businesses and communities.
