Fonicom is an ICT solutions company specialising in systems integration, data centre and software development. Thanks to the EERE Malta financial instrument powered by ERDF resources, Fonicom has successfully managed to reduce its energy consumption, thereby minimising its environmental footprint. The Energy Efficiency and Renewable Energy financial instrument (EERE) in Malta facilitated interest-free loans for the first ten years through a partnership between two local financial intermediaries and the European Investment Fund (EIF), mandated by the Maltese Managing Authority. EERE sought to enhance financing conditions for both enterprises and individuals by offering a capped guarantee combined with an interest rate subsidy, pushing loan interest rates for project promoters close to 0% for the initial ten years.
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| Submitting organisation: Office of the Prime Minister, Government of Malta Type of authority: Managing authority Financial instrument name: Energy Efficiency and Renewable Energy (EERE) Malta | Funding source: ERDF/CF Type of financial product: Capped guarantee instrument combined with an interest rate subsidy programme Financial size: EUR 25 000 000 |
