The building sector accounts for 39 per cent of the Slovak Republic’s total energy use, creating a clear need to improve the energy performance of housing to meet climate objectives and reinforce energy security. Against this backdrop, the European Bank for Reconstruction and Development (EBRD) is investing €43 million in Slovenská sporiteľňa bank’s €750 million covered bond issuance, the largest of its kind in the country.

The investment will support the development of capital markets and contribute to a greener and more inclusive economy. For every euro provided, Slovenská sporiteľňa will add €0.50 of its own funds, enabling a total deployment of €1.50. The bank will allocate 120 per cent of the EBRD’s contribution to green projects, including measures that reduce energy consumption and CO₂ emissions, as well as highly energy‑efficient residential buildings.

Alongside these environmental objectives, the transaction incorporates a social component. Slovenská sporiteľňa will direct a further 30 per cent of the EBRD’s investment to affordable and social housing. This will include financing for municipal and private rental housing, student accommodation, care homes and accessibility upgrades. The approach aims to address financing gaps and support groups such as lower‑income households, young people, older residents and people with disabilities.

The investment strengthens Slovakia’s efforts to improve energy efficiency in housing, expand access to affordable and social accommodation and support the development of capital markets. It combines green and social objectives within a single structure, addressing both climate‑related needs and housing affordability challenges.