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EBRD issues new strategy for Slovak Republic
The Slovak Republic has undertaken bold tax, labour and pension reforms and
enjoys one of the strongest economies in Central Europe. Yet the country still
faces a number of challenges, including reduction of regional imbalances,
health and education reform, completion of privatisation, law enforcement and
the effective use of EU funds.
In its new strategy for
the country, the EBRD sets forth a number of ways in which it will aim to
support the Slovak Republic in meeting these challenges following the
country’s accession to the EU on 1 May:
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In the enterprise sector the Bank will continue to actively support
restructuring and consolidation of the private sector alongside strategic
investors or through equity funds. The bank will support regional development
by encouraging foreign direct investment outside the Bratislava region and
will further support small and medium-sized enterprises (SMEs), including
those in the agribusiness sector.
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In the financial sector the Bank will expand the volume and spectrum of
financing instruments for SMEs, municipalities and agribusinesses and further
invest in equity funds.
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In the energy sector the Bank will support privatisation, work with developers
of independent power plants and seek to develop energy-savings projects for
companies, municipalities and other public entities.
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In the infrastructure sector the Bank will support access to funding from EU
grant programmes for municipalities and water companies and provide
EU-sponsored facilities to local banks for small municipalities. The Bank will
also consider support for transport projects structured as public private
partnerships. With its overall activities in the sector, the EBRD will seek to
reduce regional imbalances.
The Bank has signed 40 projects worth €3.6 billion, including €1.1 billion of
EBRD financing, in the Slovak Republic, with 83 per cent in the private sector.
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