Frequently Asked Questions

Is it possible to combine SLOVSEFF with EU structural funds?

No, the financing from EU structural funds cannot be combined with the SLOVSEFF facility funded from BIDSF, with major donor being the EU.

Is it possible to combine SLOVSEFF with The State Housing Development Fund?

Yes, the SLOVSEFF can be combined with The State Housing Development Fund, which is considered as a Slovak Republic source of funding.

Are energy efficiency measures in public buildings eligible for financing under the SLOVSEFF?

No, the facility is designed to finance industrial energy efficiency projects owned by private sector companies. The company applying for financing under the SLOVSEFF should have at least 51% private ownership.

Are housing associations, that have already realized some of energy efficiency measures, eligible for SLOVSEFF?

Yes, they are eligible. After realizing energy efficiency measures, the minimum level of energy savings to be achieved after the investment should be 15%.

Can a third party subject apply for the loan in order to realize the project that meets all SLOVSEFF conditions?

Yes, it is possible.

Can a prospective Sub-borrower, who has opened a bank account in non-participating bank, participate in SLOVSEFF?

Yes, he can, but needs to apply for the loan at any of four participating banks.

How is the incentive payment calculated?

The grant amount is calculated as a percentage of the loan principal amount. For example, if the total project cost is 150,000 EUR and you borrow and disburse 100,000 EUR, the grant is calculated as a percentage (7,5%, 15% or 20% depending on the type of the project) of the 100,000 EUR.

What is the maximum project size for financing under the SLOVSEFF?

The maximum project size is 2,500,000 EUR. This amount can be exceeded upon individual consideration of the EBRD

Is there a special condition for the project contractor selection?

No, it is upon the Sub-borrower to select own project contractor. However, the contractor must realize only measures that serve to reduce energy consumption or increase energy production. The project consultant will assess whether the final price for the work is in line with current prices. Money spent for other purposes will be considered as ineligible expenditures.

How to proceed in case of potential appeals?

If the Sub-borrower disagrees with a PC or PB determination, he has the right to appeal.

1st Level of appeal:
Within 30 days of receiving the initial determination, he may appeal the decision by submitting a letter stating the case for reconsideration to person in charge:Jan Pejter, Marián Holúbek.

2nd Level of appeal:
If the Sub-borrower still doesn’t agree with a negative decision at the first level of appeal, he may appeal a second time to the Head Project Manager: Mr. Jaroslav Vích.

3rd Level of appeal:
the Sub-borrower still doesn’t agree with a negative decision at the second level of appeal, he may appeal a third time to the funding agency, the European Bank for Reconstruction and Development (EBRD) through its Manager of this project: Ms. Stefania Racolta.