Kreda and European Investment Fund to Support Up to €70 Million in Sustainable Investments

Kreda and European Investment Fund to Support Up to €70 Million in Sustainable Investments

(IN BRIEF) The Kreda credit union group, administered by the United Central Credit Union, has signed a strategic cooperation agreement with the European Investment Fund to support sustainable investment projects in Lithuania. The agreement will make up to €70 million in financing available for individuals and SMEs, with guarantees covering financing of up to €8.25 million per single beneficiary. The financing will support renewable energy, solar and wind power systems, heating system upgrades, energy-efficient buildings, low- and zero-emission vehicles, clean transport infrastructure and green IT technologies. Kreda said the EIF guarantees will help manage lending risk and enable more favourable financing terms, allowing businesses and residents to invest faster and at lower cost in sustainable solutions.

(PRESS RELEASE) LUXEMBOURG, 15-Jul-2026 — /EuropaWire/ — The Kreda credit union group, administered by the United Central Credit Union, has signed a strategic cooperation agreement with the European Investment Fund to expand access to financing for sustainable investment projects in Lithuania.

Under the agreement, the European Investment Fund will provide loan guarantees that can support up to €70 million in new financing for individuals and small and medium-sized enterprises.

The guarantees will cover financing of up to €8.25 million per single beneficiary, helping Kreda credit unions offer more favourable lending conditions for eligible sustainable projects.

The financing will support a broad range of green investments, including renewable energy projects, solar and wind power installations, modernisation of heating systems, and the construction or renovation of energy-efficient commercial and residential buildings.

The programme will also support the purchase of low- and zero-emission vehicles, the development of clean transport infrastructure and green IT technologies designed to improve industrial energy efficiency and reduce environmental pollution.

Ramūnas Kutelis, Head of Business Development at the United Central Credit Union, said the agreement will strengthen access to sustainable financing in Lithuania.

“The EIF guarantees will help us manage risk more effectively and offer more favourable lending terms, allowing local businesses and residents to invest faster and at a lower cost in renewable energy, building renovations, and other sustainable solutions,” said Kutelis.

He added that these investments support climate objectives while also delivering direct economic benefits, including lower costs, stronger business competitiveness, greater innovation and long-term value for the economy.

Marjut Falkstedt, Chief Executive of the European Investment Fund, said the partnership with the Kreda credit union group aims to widen access to sustainable finance in Lithuania.

“By partnering with the Kreda credit union group, we aim to expand access to sustainable finance in Lithuania and help more individuals, businesses and communities invest in solutions that support climate action and improve energy efficiency,” said Falkstedt.

She added that the agreement will help accelerate Lithuania’s green transition and create long-term value for the country’s economy.

Loans for sustainable projects backed by EIF guarantees are expected to complement the existing loan product range offered by the Kreda credit union group.

About the Kreda Group

The United Central Credit Union (UCCU) is a dynamic and ambitious central credit union in Lithuania that manages the Kreda Group. Established on 2 January 2018, UCCU brings together 14 credit unions with extensive experience in the sector. UCCU is a credit union organised on a cooperative basis, registered by credit unions of legal persons and operating on the basis of share capital. The main focus of the Kreda credit union group is providing financing to individuals, small and medium-sized enterprises (SMEs), and farmers in regional communities.

About the European Investment Fund (EIF)

The European Investment Fund (EIF) is the subsidiary of the EIB Group specialised in providing guarantees, securitisation and equity to improve access to finance for small and medium-sized businesses and startups across Europe. Acting as an anchor investor, through its extensive network of partnering banks and investment funds, the EIF mobilises private investment and nurtures the ecosystem of venture capital funds to support innovative European entrepreneurs.

In 2023, the EIF together with six Member States (France, Germany, Italy, Spain, Belgium and the Netherlands) launched the European Tech Champions Initiative, a fund-of-funds to scale up innovative startups. To date, this initiative has already enabled the creation of 15 European venture capital mega-funds and scaled up 45 companies, including 12 unicorns (with more than €1 billion in capital).

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SOURCE: European Investment Fund