ILTE UAB - Energy efficiency loans securitisation

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Overview

Investment of EUR 50 million in senior notes in favour of ILTE UAB (ILTE), the national promotional bank in Lithuania, and a special purpose vehicle (SPV), established in Ireland for the purpose of a true sale asset-backed securitisation (ABS) of energy efficiency loans, originated by ILTE.

Project ID 55315

Status Signed

Location

Lithuania

Business Sector

Financial Institutions

Notice Type

Private

Project timeline

Exploratory
Passed Concept Review
Passed Structure Review
Passed Final Review
Board Approved
Signed
Implementing
Completed

Company Contact Information

ILTE UAB
uzklausos@ilte.lt
https://ilte.lt/en
Ukmergės g. 124, 08100 Vilnius, Lithuania

Project ID 55315

Status Signed

Location

Lithuania

Business Sector

Financial Institutions

Notice Type

Private

Environmental Category

Approval Date

24 Sep 2025

Disclosure date

22 Dec 2025

As permitted by paragraph 2.6 of Section III of the Access to Information Policy, disclosure of this PSD was deferred in accordance with paragraph 1.4.4 of the Directive on Access to Information.

Project Description

Project Objectives

Supporting the first true sale ABS securitisation of energy efficiency loans in the Baltics and contributing to capital market development through a novel financial instrument in the region which enables capital recycling and further investments in the buildings renovation.

Transition Impact

ETI score: 69

Client Information

ILTE UAB

EBRD Finance Summary

EUR 50,000,000.00

Total Project Cost

EUR 164,400,000.00

Additionality

The EBRD supported ILTE's first securitisation issuance, which is also the country's first ABS securitisation transaction. Given the novelty of this instrument in Lithuania, the EBRD's involvement facilitated other investors participation and contributed to the establishment of a new capital market instrument by a Lithuanian issuer.

Environmental and Social Summary

Categorised B (ESP 2024). The securitisation of existing EE loans proceeds will be used by ILTE, acting as a financial intermediary, to provide new loans to multi-apartment buildings for energy-efficiency renovation. The environmental and social (E&S) impacts associated with the implementation of the energy efficiency measures will be site-specific and readily mitigated by good management and construction practice and ESAP implementation.

E&S due diligence (ESDD) for the project has been undertaken internally and included an assessment of the previous annual reports submitted by ILTE under the recent project (publicly available information), and discussions with the client. ILTE has been reporting satisfactorily on its E&S performance, confirming that the environmental and social action plan (ESAP) under the Bank's recent project has been implemented according to the agreed schedule. ILTE has maintained an adequate environmental and social management system (ESMS) compliant with national legislation and has appropriate mitigation measures in place to address specific E&S issues associated with the project. ILTE has a clearly defined Sustainability Functional Strategy, including the application of the Do No Significant Harm principle in its financing conditions, Environmental Protection Policy, and Social Responsibility Policy.

ILTE will ensure that energy-efficiency sub-loans are implemented in line with national and EU requirements and EBRD Environmental and Social Requirements (ESRs). ILTE will apply specific procedures and technical specifications from the Lithuanian Ministry of Environment towards its sub-loans and include relevant provisions in the tender specifications for contractors to ensure that sub-projects are implemented in line with good construction contractors' management practices. Information on the impacts will be shared with the communities and residents, as well as at the construction sites.

The agreed ESAP shall ensure the building renovation works continue to comply with EBRD's ESRs. It includes items related to maintaining the ILTE's environmental monitoring procedures and information disclosure. The Bank will monitor the ILTE's E&S performance and implementation of the ESAP through annual E&S reports.

Green assessments

Paris Agreement alignment:

The project is determined aligned with the mitigation and adaptation goals of the Paris Agreement based on the application of the EBRD's Paris alignment approach for other financial instruments. The project is determined aligned because the client does not have activities that are high-emitting or climate vulnerable.

Green finance attribution:

100 per cent of the EBRD financing is classified as green finance, as it supports activities to achieve climate mitigation objectives. The attribution is made in line with the methodology to determine the green finance attribution of EBRD investments, and specific buildings sector guidance.

Technical Cooperation and Grant Financing

Pre-Feasibility Study, Securitisation of Residential Energy Efficient Loans in Lithuania.

Transactional Technical Cooperation to provide ILTE with advisory towards obtaining issuer's credit rating alongside the transaction.

Company Contact Information

ILTE UAB
uzklausos@ilte.lt
https://ilte.lt/en
Ukmergės g. 124, 08100 Vilnius, Lithuania

PSD Last Updated

22 Dec 2025

Understanding transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with the EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and its associated Environmental and Social Requirements (ESRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”. The ESP and the ESRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation, and to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about the environmental and social (E&S) performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD also requires its clients to disclose information, as appropriate, about the risks and impacts of projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

More information on the EBRD’s practices in this regard is set out in the ESP.

Integrity and compliance

The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all of the Bank's activities in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The EBRD believes that identifying and resolving issues in the project assessment and approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts andhelps to monitor integrity risks in projects post-investment.

OCCO is further responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, either within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to compliance@ebrd.com. OCCO will follow-up all matters reported. It will review all matters reported. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.

Access to Information Policy (AIP)

The AIP, which entered into force on 1 January 2025, sets out how the EBRD discloses information and consults with its stakeholders to promote better awareness and understanding of its strategies, policies and operations. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD enquiries form.

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (for example, through the client’s project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the mechanism is: to support dialogue between project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or the project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate and how to submit a Request for review. Alternatively, contact IPAM by email at ipam@ebrd.com for guidance and more information on IPAM and how to submit a request.

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

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ILTE UAB - Energy efficiency loans securitisation

Overview

Project timeline

Company Contact Information

Project Description

Project Objectives

Transition Impact

Client Information

EBRD Finance Summary

Total Project Cost

Additionality

Green assessments

Technical Cooperation and Grant Financing

Company Contact Information

PSD Last Updated

Understanding transition

Business opportunities

General enquiries

Environmental and Social Policy (ESP)

Integrity and compliance

Access to Information Policy (AIP)

Independent Project Accountability Mechanism (IPAM)