EBRD to focus on ‘limited priorities’ in the Slovak Republic

A wind turbine in Slovakia. Photo by: Cha già José / CC BY-SA

The European Bank for Reconstruction and Development is planning to streamline its support for Slovak Republic, whose economy is expected to grow in coming years.

The bank has published a new set of strategies — albeit sans funding information — for the republic, weeks after its October consultation process where no comments were received.

Sustainable energy, infrastructure, financing for micro, small and medium enterprises, and capital markets are identified as areas for further development. The bank’s activities, however, will focus on the following “limited but core” areas of priority:

  • Further improvement of financial intermediation and support for SMEs.

  • Support for the financing structures of infrastructure and energy security and efficiency projects.

  • Promote cross-border cooperation and investments, and develop a regional presence.

According to the 2012-2015 strategy, EBRD will continue to deploy and aim to expand successful financing programs implemented through local banks; active discussion with the government on public-private infrastructure partnerships; and the promotion of diversification of energy supply, among others.

During the previous strategy period, when all signed operations were in line with identified focus areas, the bank signed its largest project in the Slovak Republic and the country’s first PPP partnership in the transport sector. EBRD, since it started its engagement with the country, has invested around €1.63 billion ($2.12 billion) in approximately 125 projects to date.

The Slovak Republic is considered an advanced transition country that is moving toward a free market economy, and is expected to graduate during the fourth capital resources review of the upcoming three-year period. Despite its notable economic progress, transition challenges in important sectors, to which the bank will direct its resources, remain.

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    Adrienne Valdez

    Adrienne Valdez is a staff writer for Devex, covering breaking international development news for the Development Newswire. Before joining Devex, Adrienne worked as a news correspondent for a public-sector modernization publication.