The EBRD is considering extending the existing Slovakia Sustainable Energy Finance Facility by providing new funds worth up to €90 million to address the demand for energy efficiency and renewable energy investments in Slovakia. The project will consist of credit lines to local banks for on-lending to private enterprises and housing associations for investments in sustainable energy.
The project will be supported by a grant of EUR €15 million from the Bohunice International Decommissioning Support Fund to finance technical cooperation and investment incentives.
The Project is expected to have two sources of transition impact:
Demonstration effects of improved energy efficiency among Sub-borrowers
The Project will generate transition impact by demonstrating the benefits of energy conservation and promoting the expansion of energy efficiency and renewable energy lending in the energy inefficient Slovak Republic. The Project will demonstrate the effects of rational energy utilisation for improving industrial competitiveness in the light of the rising energy costs in the region.
Transfer of skills
The Project is also expected to transfer and build expertise, among both banks and companies, related to sustainable energy investment. New and existing participating banks will build expertise in assessing the risk and creditworthiness of clients for energy efficiency and renewable energy loans, while the enterprises are expected to become more familiar with banks’ requirements for providing such loans.
The clients will be privately owned banks based in Slovakia. The proceeds of the loans will be on-lent to private companies and housing associations.
Credit lines will be provided to local banks for on-lending to private companies and housing associations to implement energy efficiency and renewable energy investments.
The total amount of the SLOVSEFF II framework will be up to €90 million.
Screened FI (2008). Participating Bank's under this Framework will be required to comply with the EBRD's Performance Requirements 2 and 9. PBs will require that companies financed through the credit lines comply with national requirements for environment, social, health and safety and labour. Reporting on sub-projects and annual environmental and social reports will be provided to the EBRD by the PBs. EBRD procedures for small hydro eligibility will apply under any such sub-loans under this Facility.
Technical cooperation will be funded by the Bohunice International Decommissioning Support Fund. Consultants will be contracted by EBRD to provide beneficiaries with project design and implementation support.
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