About MunSEFF

The Municipal Finance Facility – Energy Efficiency (MunSEFF) is an initiative of the European Bank for Reconstruction and Development (EBRD) and the European Commission (EC) to develop and stimulate commercial bank financing to municipalities and their utility companies in Slovakia. The main purpose of the programme is to stimulate implementation of energy efficient rehabilitation of municipal infrastructure, where high potential to achieve savings is particularly noted in the municipal and residential buildings sector.

Since the MunSEFF’s start in the spring 2011, the finances have been expended in realisation of a number of municipal energy efficiency improvement projects but demand for the support has not ceased. Following such success, the EBRD has launched an extension of the Facility.

Kremnička Primary School
Primary school Kremnička

As investment in sustainable energy is of the highest priority for the EBRD, the second phase of the Facility, MunSEFF II, is designed to reach an even larger variety of municipal projects. It will be implemented in three Components that will cover different target segments as follows:

  • Component 1: Municipal infrastructure (excluding buildings) energy efficiency Sub-projects with incentive payment to Sub-borrowers of up to 20%;
  • Component 2: Municipal/Residential building energy efficiency Sub-projects with incentive payment to Sub-borrowers of up to 15%;
  • Component 3: Municipal infrastructure and/or municipal building renewable energy Sub-projects with incentive payment to Sub-borrowers of up to 15%.

The maximum Sub-project size is EUR5 million.

Up to EUR90 million will be invested through the Sub-loans compared to the EUR10 million paid out in MunSEFF I. The money will be allocated to eligible Sub-projects through the local commercial banks – Slovenská Sporitel’ňa and VÚB.

Eligible Sub-borrowers for MunSEFF II are:

  • municipalities,
  • housing associations,
  • public or private companies providing municipal services,
  • ESCOs implementing energy efficiency investments in co-operation with one or more municipalities.

The type of support and procedures of MunSEFF II are identical to the first phase. This means that technical assistance, low-cost loans and financial grants will be provided to the approved Sub-projects, should they fulfil all Facility conditions.

MunSEFF General Presentation (PDF, 779 KB)