On January 26 at Hotel Bergs press conference was held, in which public was introduced to innovative investment platform for deep renovation of Soviet era residential buildings in Latvia – fund LABEEF (Latvian Baltic Energy Efficiency Facility).

One of the initiators of the new solution and creators of the new fund is non-governmental organization “Building and Energy Conservation Bureau” (ESEB) in cooperation with the leading experts of the Riga Technical university, international and local experts in the fields of finance and building renovation.

The goal of the fund is to attract local and foreign investors and provide renovation of old housing stock in Latvia in the long-term. The development of investment platform is financially supported by the project “SUNShINE” of the European Commission programme “Horizon 2020”

In the press conference along with representatives of ESEB and Riga Technical university were also representatives of the European Bank for Reconstruction and Development, Latvian Pensioners Fereration and Latvian Association of Municipalities.

To read the press release click here.