(ADPnews) - Feb 14, 2011 - The European Bnak for Reconstruction and Development (EBRD) said today it is providing a EUR 15 million (USD 20m) loan to Ceskoslovenska Obchodna Banka (CSOB) to finance sustainable energy projects in Slovakia.
Extended under the bank’s Slovakia Sustainable Energy Finance Facility (SlovSEFF), the loan will be used for on-lending in the industrial and residential sectors to finance efficiency and renewable energy projects.
Sub-borrowers undertaking sustainable energy investments will be eligible for an investment grant of up to 15% of the amount of the loan, upon the completion of the works. In addition they will benefit from free technical assistance in assessing energy saving potential and project implementation. Grant financing of up to a total of EUR 15 million will be provided by the Bohunice International Decommissioning Support Fund for these purposes.
SlovSEFF was launched in 2007 when the EBRD provided EUR 60 million via four local partner banks to encourage Slovak enterprises and housing associations to make better use of energy resources. Following the high demand for the funds, in 2010 the Bank extended the facility by additional EUR 90 million.
To-date the EBRD has financed over 350 sustainable energy projects in the residential and industrial sectors in Slovakia under the SlovSEFF.
(EUR 1.0 = USD 1.345)