EBRD Investment Loans to Support Energy Efficiency Development (SLOVSEFF)

VÚB, a.s. grants loans promoting energy efficiency co-financed by EBRD (European Bank for Renewal and Development) as a part of Slovak Sustainable Energy Financing Facility (SLOVSEFF). For more information please click on www.slovseff.eu.

The objective of SLOVSEFF Program is to support industrial energy efficiency development, renewable energy, and residential energy efficiency projects.

Following the successful completion and validation of each project, a client will receive an incentive payment calculated as a percentage of loan amount. Amounts of incentive payments follow:

• Industrial energy efficiency – 7.5 % of loan amount,
• Renewable energy – 15 % of loan amount,
• Residential energy efficiency projects – 20 % of loan amount.

Incentive payments are paid to applicants directly.

The project is intended for private companies, both legal entities and natural persons, conducting business under the Slovak law and meeting the following criteria:

• A company’s majority shareholder may not be a government,
• Companies involved in tobacco, liquor, and alcohol production, marketing, and distribution (except for breweries, wine producers, and other companies producing drinks with a low /medium content of alcohol), hazardous games operations, weapon manufacturing and trading, and projects not complying with EBRD´s environmental policy are excluded,
• A company’s business activities may not pollute environment.

Other conditions :

• Maximum loan amount is EUR 2 mil.,
• Minimum loan amount is EUR 20 thou.,
• Loans are denominated in EUR,
• L/T investment loans are due until September 4, 2015,

EBRD does not require that a client use the incentive payment to repay a portion of loan principal. However, assessing the client and project related risk, it might be asked to use the incentive payment to repay a portion of the principal. In such case, a special current account, which the incentive payment will be paid to, has to be opened.

VÚB, a.s. requires that a client co-finance min. 10 % of total project costs (incl. VAT).

You can apply for the EBRD investment loan within the SLOVSEFF program in any VÚB branch or online on www.slovseff.eu.