EIB and SIH sign agreement to boost advisory capacity in energy efficiency field

Today, the EIB and Slovak Investment Holding (SIH) signed an agreement, funded by the European Investment Advisory Hub as part of the EIB's Call for Proposals "Delivery of local investment advisory services by National Promotional Banks (NPBs)".

Thanks to this support, SIH will further enhance its advisory capacity by recruiting additional expertise in the field of sustainable investments and energy efficiency. SIH will be better equipped to support public project promoters in Slovakia in delivering Energy Performance Contracting (EPC) projects. EPCs are contractual arrangements between building owners and energy service company that invests in energy efficiency measures and guarantees energy savings over the duration of the contract. EPCs are recognised by EU directives and European initiatives as crucial to unlocking the energy-saving potential in the market.

This new agreement complements advisory and technical assistance already provided by the EIB, including support for the design and implementation of financial instruments in the sector, advice on template EPC contracts to be used by the public sector in renovating their buildings, and support to help identify smart city investment projects across Slovakian municipalities.

"The Funding Agreement represents a new milestone in the collaboration between EIB and SIH" - says Lilyana Pavlova, EIB Vice-President responsible for Advisory Services. "I am confident that this additional support by the EU Climate Bank, in the context of the Advisory Hub's activities, will be key to allow the development of environmentally sustainable investment projects that will support the transition of the country towards a low carbon economy. Partnerships like this one with SIH are essential to delivering the EU Green Deal.".

"Environmentally sustainable investment projects are the only way to help us build a low carbon economy based on low carbon building stock. This Funding Agreement in collaboration with the Advisory Hub is the first step for us - as this project will help us deliver high-quality technical assistance to our municipalities and other public entities. It will essentially help us to establish a prosperous market for EPC projects in Slovakia." – added Ivan Lesay, SIH's CEO.