LithuaniaPrivate Business, Public Institution
Paskolos „Paveldas“
Loan Instrument 'Paveldas'
Funding Amount
Up to €1.5M
Deadline
29/06/2029
Eligible Organization Types
Private Business, Public Institution
Trusted by
What is the Paskolos „Paveldas“ Call?
Grant Description
Loan program to renovate, activate and make cultural heritage objects operational by financing up to 80% of eligible restoration and adaptive reuse costs. Addressing the need to preserve and modernize heritage sites, generate new revenue streams and support sustainable cultural tourism.
Required Results for Successful Funding
Expected Outcomes
• Restored and conserved cultural heritage objects adapted for contemporary community cultural, social and economic use
• Improved physical and digital accessibility, visitor experience and outreach
• Increased visitor numbers and tourism revenue
• Generation of new business activities, revenue streams and local employment
• Enhanced regional attractiveness and investment potential in Central & Western Lithuania and the Capital region
• Strengthened public-private financing partnerships for heritage conservation
• Long-term sustainable use and preservation of cultural heritage assets
• Full compliance with environmental standards (no significant harm to climate, water, biodiversity, circular economy or pollution prevention)
• Improved physical and digital accessibility, visitor experience and outreach
• Increased visitor numbers and tourism revenue
• Generation of new business activities, revenue streams and local employment
• Enhanced regional attractiveness and investment potential in Central & Western Lithuania and the Capital region
• Strengthened public-private financing partnerships for heritage conservation
• Long-term sustainable use and preservation of cultural heritage assets
• Full compliance with environmental standards (no significant harm to climate, water, biodiversity, circular economy or pollution prevention)
Funded areas
Scope Requirements
• Beneficiaries: owners or managers of registered immovable cultural heritage objects (private or public legal entities) in the Central & Western Lithuania or Capital region
• Maximum loan per beneficiary or group: €1.5 million (unlimited number of loans otherwise)
• Loan covers up to 80% of eligible project costs
• Mandatory private co-financing of at least 20% of eligible costs (excluding VAT), including at least 10% own funds (if own funds ≥20%, no other private financier required)
• Projects with eligible costs over €500 000 must comply with publicity requirements
• Loan term up to 15 years; funds to be fully used within 24 months of contract signing
• Fixed annual interest rate of 2%
• Eligible costs defined by EC Regulation 651/2014 Article 53(4)
• Mandatory submission of a business plan (per Innovation Agency structure), financial statements, detailed cost estimates, permits and project documentation
• Mandatory private financier commitment and proof of fund origin
• Completion of the “no significant harm” (DNSH) assessment questionnaire
• Maximum loan per beneficiary or group: €1.5 million (unlimited number of loans otherwise)
• Loan covers up to 80% of eligible project costs
• Mandatory private co-financing of at least 20% of eligible costs (excluding VAT), including at least 10% own funds (if own funds ≥20%, no other private financier required)
• Projects with eligible costs over €500 000 must comply with publicity requirements
• Loan term up to 15 years; funds to be fully used within 24 months of contract signing
• Fixed annual interest rate of 2%
• Eligible costs defined by EC Regulation 651/2014 Article 53(4)
• Mandatory submission of a business plan (per Innovation Agency structure), financial statements, detailed cost estimates, permits and project documentation
• Mandatory private financier commitment and proof of fund origin
• Completion of the “no significant harm” (DNSH) assessment questionnaire
Additional Conditions for Applicants
Special Conditions
• Prohibited uses: expenses already funded by EU or other sources exceeding 100% of cost; arms & ammunition retail; tobacco manufacture/trade; gambling or betting operations; wholesale of alcoholic beverages; transactions with entities in hostile countries (Russia, Belarus, Crimea, Transnistria, Abkhazia, South Ossetia)
• Cannot refinance existing financial or shareholder obligations, pay dividends, reduce capital, purchase real estate for resale or non-project uses, fund non-cash contributions, fund land purchases >10% of loan, cover business plan preparation costs, or fund investments completed before financing decision
• Budgetary institutions are ineligible (no borrowing under their statutes)
• Contractors must not be on unreliable or sanctions lists, must have ≥10% equity ratio and past experience executing at least 50% of the project’s construction budget (unless procured publicly)
• Loan arrangement fee: 0.4% of loan amount (min €500)
• All guarantee costs (valuations, notary fees) borne by borrower
• Dotation up to 30% of disbursed loan may be converted to grant upon successful completion
• Contracts must be signed by 29 June 2029
• Reporting obligations: maintain heritage object ownership/management for 5 years; report annual visitor numbers; submit interim and final financial and technical reports; support on-site RŽNP monitoring
• Publicity for projects >€500 000: permanent information board or plaque with ES emblem and "Funded by the European Union” statement
• Cannot refinance existing financial or shareholder obligations, pay dividends, reduce capital, purchase real estate for resale or non-project uses, fund non-cash contributions, fund land purchases >10% of loan, cover business plan preparation costs, or fund investments completed before financing decision
• Budgetary institutions are ineligible (no borrowing under their statutes)
• Contractors must not be on unreliable or sanctions lists, must have ≥10% equity ratio and past experience executing at least 50% of the project’s construction budget (unless procured publicly)
• Loan arrangement fee: 0.4% of loan amount (min €500)
• All guarantee costs (valuations, notary fees) borne by borrower
• Dotation up to 30% of disbursed loan may be converted to grant upon successful completion
• Contracts must be signed by 29 June 2029
• Reporting obligations: maintain heritage object ownership/management for 5 years; report annual visitor numbers; submit interim and final financial and technical reports; support on-site RŽNP monitoring
• Publicity for projects >€500 000: permanent information board or plaque with ES emblem and "Funded by the European Union” statement
Important dates
Deadline:29/06/2029
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