(MENAFN- Trend News Agency) BAKU, Azerbaijan, August 9. Lithuania's Ministry of Culture is accelerating the implementation of the financial instrument Paveldas (Heritage), a dedicated program aimed at restoring and repurposing cultural heritage sites, Trend reports.

So far, five soft loan agreements have been signed, supporting the renovation of some of the country's most historic landmarks, including one of Lithuania's oldest cinemas, two manors, a Renaissance castle, and an interwar-era villa. The program is implemented in partnership with ILTE, with a total loan value of nearly 4.1 million euros.

“This financial tool represents a socially responsible approach to heritage preservation, which we set out as a key strategic priority earlier this year. We are glad to see the first positive results. These projects show how targeted EU investments combined with private capital can bring complex, large-scale projects to life. Every restored cultural site that's adapted to today's needs becomes a cultural hub, a boost to regional economies and tourism, and a driver for job creation. The strong interest in this instrument proves its necessity and timeliness - we expect many more success stories ahead,” said Vice Minister of Culture Dr. Ingrida Veliutė.

The loan agreements will support the revival of five culturally and historically significant sites:

1.5 million euros will go to the renovation of Daina, Lithuania's oldest surviving cinema in Kaunas, which will be modernized to host contemporary cultural events.

790,000 euros will support the restoration of Kaimelis Manor.

Over 640,000 euros have been allocated to complete long-running renovation works at Panemunė Castle, one of Lithuania's Renaissance treasures. New additions will include accessibility upgrades such as a lift for people with disabilities and full modernization of engineering systems.

Villa Oazė, a wooden architectural gem in the resort town of Druskininkai, received nearly 600,000 euros and will be opened to the public with space for art exhibitions, concerts, seminars, workshops, and cultural programs.

Over 566,000 euros have been earmarked for Kalnaberžė Manor, which will be transformed into a multifunctional space for events, education, a museum, and guest accommodation.

The Paveldas program operates on the principle of soft loans, with the potential for partial conversion into non-refundable grants if the project is successfully completed.

Funded by the European Regional Development Fund, the instrument has a total value of 5.5 million euros and aims to attract private investment into cultural heritage revitalization. The initiative is administered by ILTE, with loan agreements available until June 29, 2029.

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