In the framework of the Energy Saving Credit Programme (ESCP) programme, the total investment spent on energy efficiency projects has been HUF 4.692 billion (€ 17.6 million), of which HUF 3.554 billion was for preferential credit. So far, the ESCP has focused on funding energy savings programmes at the municipal level, modernisation of district heating systems and the development of energy service company (ESCO) ficing. The funds are provided by a local bank – winner of an annual tender through which the interest rate of the loan (the lowest offer) is set. Part of the subsidy is a grant provided by the Economic Development Fund of the Ministry of Economic Affairs. Applications are evaluated by the bank and by an Inter-Ministerial Committee which analyses the technical feasibility and the level of energy saving.