EBRD funds to promote energy efficiency investments in Slovakia

By EBRD  Press Office

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The EBRD is continuing to support private companies and housing associations in Slovakia in their drive to improve energy efficiency with a €15 million loan to UniCredit Bank Slovakia to finance sustainable energy projects.

Extended under the Bank’s Slovakia Sustainable Energy Finance Facility (SlovSEFF), the loan will be used for on-lending in the industrial and residential sectors to finance efficiency and renewable energy projects.

Sub-borrowers undertaking sustainable energy investments will be eligible for an investment grant of up to 15 per cent of the amount of the loan, upon the completion of the works. In addition they will benefit from free technical assistance in assessing energy saving potential and project implementation. Grant financing of a total of €15 million from the Bohunice International Decommissioning Support Fund has been secured for these purposes.

“Promoting efficient use of energy is one of the EBRD’s key priorities. This new loan will support further implementation of energy efficiency and small renewable energy projects in Slovakia, helping housing associations and industrial companies to reduce their energy consumption and improve efficiency”, said Jean-Marc Peterschmitt, EBRD Director for Financial Institutions.

“Last year UniCredit Bank obtained the Environmental Management Certificate, confirming that the bank actively contributes to the environmental protection. The cooperation with the EBRD opens new opportunities to finance the energy saving projects in housing and industrial enterprise sectors in compliance with the policy of UniCredit Bank. The non-repayable benefits, the free technical support as well as the possibility to obtain the Energy Certificate, represent significant incentives to design and implement energy saving projects”, said Monika Kohútová, Head of Retail Banking Division.

SlovSEFF was launched in 2007, when the EBRD provided €60 million via 4 local partner banks to encourage Slovak enterprises and housing associations to make better use of energy resources. Following the high demand for the funds, in 2010 the Bank extended the facility by additional €90 million. 

To date the EBRD has financed over 350 sustainable energy projects in the residential and industrial sectors in Slovakia under the SLOVSEFF.

Similar EBRD facilities are currently operating in Bosnia-Herzegovina, Bulgaria, Georgia, Hungary, Kazakhstan, FYR Macedonia, Montenegro, Moldova, Romania, Russia, Serbia and Ukraine. Overall the EBRD has committed over €900 million to Sustainable Energy Finance Facilities in these countries.

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