EIB Support for Energy Efficiency in Czech Republic

THE European Investment Bank (EIB) has extended two intermediated loans combined with EU grant subsidies to support energy efficiency promoted by SMEs and Mid-Cap companies in the Czech Republic.

Both loans are expected to benefit from the new SME Energy Efficiency Window with a view to supporting energy efficiency and renewable generation projects .

The loans have been arranged in the framework of the Green Initiative – involving EU grants of EUR 25.2 million provided by the European Commission. Some 60% of the EU grants have been used to create investment incentives for final beneficiaries, while project-related technical assistance and administration fees have each been supported by 20% of the total sum.

The country coverage for this initiative has been focused on EU Member States that joined the Union after January 2004 and Candidate Countries from Central and Eastern Europe. So far, seven banks in six countries are involved (Croatia, Czech Republic, Hungary, Poland, Romania and Slovakia).

These loans are in line with the EIB’s priority of improving the availability of long-term finance in particular for SMEs and Mid-Caps. In addition, they will help reduce the effects of the financial crisis and support growth by fostering economic restructuring, consolidation and diversification as well as enhancing long-term competiveness through the increased availability of long-term credits. To these ends, the EIB is joining forces with well-established financing institutions, like Raiffeisenbank a.s. and Česká Spořitelna a.s., that know the local market and count SMEs and Mid-cap companies among their customers.

Source and Picture from the EIB

Tuesday 10th September 2013

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