New Strategy from the EBRD for Slovak Republic

Thanks to the Board of Directors at the EBRD, a new strategy has now been devised for the Slovak Republic. Within the plan, all intentions were laid out for the period between now and 2022. Below, we have the two main objectives.

1) Improve Competitiveness - Through the use of various financial instruments, including infrastructure and covered bonds, the first aim is to improve the competitiveness across all markets. Not only will finance be available, the EBRD will provide specialised experts who can help businesses to grow. Also, PPPs and other innovative structures will be employed with selective infrastructure projects in the coming years. With more financial channels and better infrastructure for industries, the overall competitiveness should improve.

2) Green Economy Transition - Secondly, green economy projects will not only be supported but prepared and financed (if the government offers the right support). By using the Green Energy Financing Framework and various innovative products, the EBRD want to improve all resources and energy efficiency within the nation. Wherever necessary, they aim to work with the EU Structural and Investment Fund as well as the government.

Over the next five years, the Bank will seize any opportunities that arise for this objective so long as it boosts economic inclusion. Regional Head for Hungary and the Slovak Republic at the EBRD, Graeme Hutchinson, said “The new country strategy for the Slovak Republic marks an important milestone in our activities in the country and sets out the parameters for our future engagement. The Slovak Republic has come a long way in the transition process and the EBRD remains committed to help tackling remaining challenges. This is expressed in our strategy and the document will serve as a roadmap in this process.”

Of course, the EBRD is no stranger to the Slovak Republic having already created over 130 projects leading to investment of €2.3 billion. As well as financing, the EBRD also has a positive role in policy engagement and this was seen just recently with amendments to existing laws regarding covered bonds. Now, they fall in line with the recommendations of the European Banking Authority.