Problem ko din ito dati, I thought of putting a double wall or a styrofoam enclosed by a drywall. kaya lang ayoko na maabala ng trabaho inside the house, so i did not push through, but this may help.
The advantage of EIFS is that it's ideally externally laid, preventing heat retention on the existing concrete wall. Doing it from the inside won't be as effective. Plus, the stucco epidermis will be more durable than paint.