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Name |
Czech Republic PHARE Energy Saving Fund |
Status |
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Active |
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Funding Mechanism |
Loan fund |
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Duration |
1997-2007 |
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Objectives |
To provide low interest loans for energy efficiency projects |
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Sponsors |
Czech Ministry of Industry and Trade, PHARE and CSOB, Ceskoslovenská obchodní banka |
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Eligible Sectors |
Industrial Enterprises, Municipalities, Hospitals, Building Co-Operatives, and District Heating |
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Eligible Projects/Technologies |
Reconstruction of heating systems and energy systems, insulation of houses, regulation of heating and insulation in schools. |
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Fund Endowment |
50% PHARE, 50% CSOB |
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Terms |
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-Funding Instruments |
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-Interest Rates |
As of Oct. 1 2001 , 6.7%, floating rate=1/2 CSOB's Prime Rate %20 X (X=bank's margin, max. 3.5% p.a.) |
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-Payback |
4 year minimum and 5 years and 6 month maximum |
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-Size |
2 million Czech/US$ 54,114 minimum and 50 million Czech/US$ 1.35 million |
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-Collateral |
Yes, Standard |
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-Share of loan in project cost |
80-100% |
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-Loan criteria |
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Comments |
In March 1997, the Fund was established through the PHARE fund to support small and medium energy efficiency projects. Soft loans were made available for bankable projects, where the debt service would be repaid from cost savings.
For an administration fee of 0.95% of the total loan amount, CSOB performs the standard credit-worthiness of appraisal, approves the loan amount and bears the risk of non-payment. |
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Sources |
World Bank
SEVEn
Czech Energy Agency
Ministry of Industry and Trade of the Czech Republic |
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Contact Information |
Jirí Mohelník, Head of International Organization and Cooperation Unit - Assistant: Ms. Lucie Týfová: tyfova@mpo.cz |
