VILNIUS – Lithuania's government on Monday decided to issue green bonds on the domestic market, with the first issue worth 68 million euros to be launched in late April.
The Lithuanian government will be the first public authority in the Baltic states to issue green bonds.
The generated funds will be invested in modernizing multi-apartment buildings and enhancing energy efficiency, the Finance Ministry said.
"The interest in green bonds is a rapidly growing and global, worldwide process. The European Union together with the United States are among the green bond leaders," Finance Minister Vilius Sapoka said in a press release.
He expects that the government's decision to use this financing instrument will encourage greater interest from foreign investors in investment opportunities in Lithuania.
All proceeds from the bond issue will be on-lent to the Public Investment Development Agency, or VIPA, which will use the 10-year loan for the modernization of 156 multi-apartment buildings.