The loan for a period of up to 23 years will be allocated to finance the project “Development of sheltered housing in the Elektrėnai municipality.” It will be provided from the funds of a 300 million euro loan from the European Investment Bank (EIB) borrowed on behalf of the state.
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Sheltered housing is a service where persons with intellectual or psychosocial disabilities are housed in provided accommodation and manage independently, receiving minimal social worker assistance.
In implementing the project in Elektrėnai and Vievis, it is planned to acquire seven residential apartments – three one-room and four two-room. They will be renovated, equipped with necessary furniture and appliances, and adapted to the requirements of sheltered housing.
The total value of the project is nearly 655.6 thousand euros. From European Union funds, 327.8 thousand euros are allocated, co-financing funds will amount to 229.4 thousand euros, and the municipality’s share is 98.3 thousand euros.
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The loan will be provided at the interest rate set by the EIB, increased by 0.1 percentage points. At the beginning of July, the interest rate set by the EIB was 3.052 percent.
If the municipality fails to fulfill contractual obligations, the Ministry of Finance may deduct the unpaid amount from the state budget revenues allocated to the Elektrėnai municipality budget.
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