Investment loans from EBRD sources

VÚB, a.s. grants loans promoting energy efficiency co-financed by EBRD (European Bank for Reconstruction and Development). You can apply for investment loans within these programs:

  • MUNSEFF (Municipal Sustainable Energy Financing Facility) - with focus on energy efficiency of municipalities
  • SLOVSEFF III. (Slovakia Sustainable Energy Finance Facility) - with focus on energy efficiency in industry

Program MUNSEFF

VÚB, a.s. grants loans promoting energy efficiency in municipalities co-financed by EBRD (MUNSEFF-Municipal Sustainable Energy Financing Facility).

The objective of MUNSEFF Program is to support energy efficiency in municipal infrastructure, renewable energy projects and residential energy efficiency projects.

Following the successful completion and validation of each project, a client will receive an incentive payment (grant) calculated as a percentage of loan amount.

For more information please click on www.munseff.eu.

Incentive payments can reach the following levels:

  • municipal infrastructure energy efficiency sub-projects (excluding buildings): up to 20 % of the loan amount (the condition is to reach at least 20% energy savings)
  • municipal infrastructure and/or municipal building renewable energy sub-projects – up to 15 % of the loan amount
  • municipal/residential building energy efficiency sub-projects – up to 15% of the loan amount (the condition is to reach at least 30% of the energy consumption in comparison with the original energy consumption)

The incentive payments are paid directly to the client.

MUNSEFF Program is intended for municipalities, public or private companies delivering municipal services, Energy Saving Companies (ESCO´s) implementing an energy efficiency investment in cooperation with municipalities and for housing associations or housing management companies.

The loan applicant has to fulfill the following conditions:

  • must be located in Slovakia
  • shall not conduct business in following activities: gambling, real estate, banking, insurance or financial intermediation, the manufacture, supply or trade in arms and all other activities excluded by the EBRD from time to time
  • shall not be included on EBRD´s list of persons or entities ineligible to be awarded an EBRD financed contract or for EBRD funding
  • shall be in compliance with the applicable national environmental, social and health and safety legislation in Slovakia

The loans from the program are long-term investment loans granted in EUR. The maximum amount of the loan is 5 mil. EUR, the minimum amount is 20 thous. EUR.

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.

In case of interest the client can contact any corporate branch of VÚB, a.s.

Program SLOVSEFF III.

VÚB, a.s. grants loans promoting energy efficiency co-financed by EBRD (European Bank for Reconstruction and Development) as a part of Slovak Sustainable Energy Financing Facility (SLOVSEFF III.).

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 (on a basis of the future carbon abatement potential of the project) as a percentage of the disbursed loan amount.

The incentive payments can be following:

  • Industrial energy efficiency and renewable energy projects: 5-20 % of the loan amount
  • Residential energy efficiency projects: 10-15% of the loan amount (the energy savings difference has to be 30-40% before and after rehabilitation)

The SLOVSEFF Program is intended for private companies, housing management companies or flat owners associations, energy service companies (ESCOs) or other private legal entities conducting business under the Slovak laws.

Other conditions:

  • maximum loan amount is EUR 2,5–10 mln. EUR (depending on the type of the project)
  • minimum loan amount is EUR 20 000 EUR
  • Internal Rate of Return of the project must reach at least 8%
  • loans are denominated in EUR
  • no other grant support can be provided for the same project

The technical assistance for the client from the side of the Project Consultant and Verification Consultant is provided free of charge.

You can apply for the EBRD investment loan within the SLOVSEFF III. Program at any corporate branch of VÚB, a.s. or contact directly your relationship manager.

For more information please click on www.slovseff.eu.




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