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Slovak Investment Holding has expanded its partnership with the European Investment Bank (EIB) to expand the energy efficiency market in Slovakia.

The partnership is funded by the European Investment Advisory Hub as part of the EIB’s “Delivery of local investment advisory services by National Promotional Banks (NPBs)” call for proposals.

Slovak Investment Holding will leverage the partnership to further enhance its advisory capacity by recruiting additional expertise in the field of sustainable investments and energy efficiency.

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The state-owned company will be better equipped to help public project promoters in Slovakia to deliver Energy Performance Contracting (EPC) projects.

The EIB had already been helping Slovak Investment Holding to design and implement financial instruments, to set up a template of EPC contracts to be used by the public sector in renovating their buildings and to identify smart city investment projects across Slovakian municipalities.

Lilyana Pavlova, EIB Vice-President responsible for Advisory Services, said: “I am confident that this additional support from the EU climate bank, in the context of the Advisory Hub’s activities, will be key to enabling the development of environmentally sustainable investment projects that will support the transition of the country towards a low carbon economy. Partnerships like that with SIH are essential to delivering the EU Green Deal.”

Ivan Lesay, SIH’s CEO, said: “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.”