A Municipal Instrument to Finance Sustainable Energy Investments in the Slovak Republic

Sustainable energy investments are a top priority for the European Bank for Reconstruction and Development (EBRD). As such, the EBRD established a credit line to support energy efficiency in Slovak municipalities – the MunSEFF. Through the local banks, the Facility provided financing of energy efficiency and renewable energy investment opportunities. The credit line was supported by a comprehensive technical assistance package that underpinned the demand for the Facility, helped the sub-borrowers prepare loan applications and educated local bank officers in sustainable energy investment opportunities and credit appraisal methods.

Supported by grant funding from the donors (in this case the EU), this assistance was provided free of charge by project implementation teams consisting of both local and international experts.

The programme was initiated in 2007 and was to be finalized in 2010. Due to its success, a second phase was launched in 2010.

MunSEFF II Summary

The second phase continued until December 2015. During its course, MunSEFF supported 403 projects, including energy efficiency improvements in 114 municipal buildings, 219 residential buildings and 70 municipal infrastructure projects. The total loan amount reached about €84.5 million with the total investment costs of more than €92.5 million. The programme was supported by an EU grant of €21.3 million used for investment incentives and the provision of technical assistance to its partner banks and sub-borrowers.

Projects financed under MunSEFF will lead to annual primary energy savings of 79 GWh - equivalent to the household electricity consumption of a regional Slovak city Trnava with about 70,000 inhabitants - and annual greenhouse gas emission reductions of 15,000 tonnes of CO2 equivalent.

The MunSEFF programme was finalized by full disbursement of the funds at the end of 2015.


EBRD rewards best municipal sustainable energy projects in the Slovak Republic


In February 2016, 8 MunSEFF projects were recognized at an awards ceremony in Bratislava organized by the EBRD. The night was attended by 80 guests, including representatives of the Slovak government and local authorities as well as guests from EBRD partner banks and local companies.

Awards night coming soon to Bratislava


Several successful MunSEFF projects will be recognised at an awards ceremony in Bratislava on 11th February 2016.

Municipalities recognized for street lighting modernization projects


A gala event in Presov, Slovakia, was organised in recognition of four municipalities that have implemented a complex reconstruction of their street lighting through MunSEFF.

Slovak Association of Energy Service Providers Established


The Slovak Association of Energy Service Providers (APES) has been established with the active participation of ENVIROS as an experienced consultancy and technical assistance provider for MunSEFF.


All articles