Slovak Energy Efficiency Financing Framework


Slovak Republic

Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

23 Oct 2007



PSD disclosed:

13 Sep 2007

Project Description

The proposed project is a finance facility where EBRD will provide credit lines to Participating Banks (PBs) for a total amount of up to EUR 60 million for on-lending to private sector industrial entities for energy efficiency and renewable energy investments. The use of proceeds is also extended for on-lending to Housing Associations for investments in the residential sector. The facility will be supported by grant funding of EUR 15m (“the Grant”) from the Bohunice International Decommissioning Support Fund. The Grant will fund technical assistance, incentives to sub-borrowers and administrative fees to PBs

Transition Impact

The project will help overcome market imperfections that prevent energy efficiency and renewable energy investments in Slovakia. The financially intermediated model has proven successful in reaching a wide range of sub-borrowers in the industrial and residential sectors thereby achieving maximum impact of donor funds and rational energy utilization in light of the decommissioning of the Bohunice nuclear plant. The proposed project would result in demonstration effects of successful restructuring through energy efficiency investments and building sustainable expertise among the PBs and sub-borrowers.

The Client

The clients will be the PBs which will on-lend to sub-borrowers planning to undertake energy efficiency investments and renewable energy projects in the private industrial sector and to Housing Associations for energy efficiency investments in the residential sector.

EBRD Finance

Senior loans of up to a total of EUR 60 million to be allocated to PBs in Slovakia.

Project Cost

EUR 60 million from EBRD.

Environmental Impact

FI screened operation. PBs will require that companies financed through this credit line comply with national requirements for environment, health and safety. Reporting on sub-projects and annual monitoring reports will be provided by PBs. EBRD procedures for hydro sub-projects will apply under any such sub-loans under this Facility. Increased efficiency in heat generation, reduction of heat transmission losses and improved efficiency in the use of heat and energy will lead to a reduction of air pollutants (e.g., SO2; NOx; CO2; particulates) resulting from heat and electricity generation. This is a clear and quantifiable environmental benefit in energy saving which is tracked and reported on by the consultants.

Technical Cooperation

The framework is supported by a Grant provided by the Bohunice International Decommissioning Support Fund which will cover:

i) Incentives to sub-borrowers and PBs;
ii) Technical assistance where two consultant will be engaged by the EBRD to provide the following services:
Project Consultant (“PC”) will:

a. Market of the Facility and develop a pipeline for industrial energy efficiency, renewable energy and housing associations projects
b. Assist in the preparation of sub-projects for the end-borrowers and PBs
c. Provide efficient tracking, monitoring and reporting system to the Facility.

Independent Energy Expert (“IEE Consultant”) will conduct Completion Validation Reviews (“CVR”) for the sub-projects implemented under the Facility

Company Contact

Terry McCallion, Senior Banker, Financial Institutions Team,
One Exchange Square
London EC2A 2JN


Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

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