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Name |
Slovakia Energy Saving Scheme |
Status |
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Idle |
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Funding Mechanism |
Loan fund |
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Duration |
1997-2007 |
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Objectives |
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To provide attractive loans for the support of small and medium scale energy saving investment projects in order to reduce energy intensity, energy imports, environmental impacts and increase competitiveness of the Slovak Industry |
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Sponsors |
European Commission PHARE and EBRD |
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Eligible Sectors |
Industry |
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Eligible Projects/Technologies |
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Fund Endowment |
EUR€ 11.4 million of which PHARE provided € 3.8 and EBRD € 7.6 (blending ratio 1:2) |
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Terms |
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-Funding Instruments |
Loans |
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-Interest Rates |
Interest rates blended from PHARE, EBRD, and PBK. PHARE monies had 0% interest rate, reducing the rate by ¼ vis-à-vis commercial rates. |
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-Payback |
Simple payback of the project must not exceed 4 years. |
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-Size |
€ 50,000 minimum to € 800,000 |
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-Collateral |
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-Share of loan in project cost |
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-Loan criteria |
40% of the financial return following the investment funded through loan must result in energy consumption reduction |
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Comments |
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In October 1998, the EBRD Credit Line to PBK was blocked due to financial ratio within the PBK and PBK announced that not enough funds were available for co-financing of all the energy saving projects under PHARE allocation. PBK finally declared bankruptcy. Currently, the Ministry of Economy has money for additional EE projects, but there has been no decision to reinstate this program yet. |
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Sources |
Ministry of Economy of the Slovak Republic |
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Contact Information |
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