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EBRD shareholder representatives to visit Slovak Republic
Representatives of the shareholders of the EBRD begin a three-day visit to the
Slovak Republic on Wednesday. The Board of Directors represents the Bank's 62
public shareholders and approves all Bank projects.
The visit will take the participants to the Kosice region in south-eastern
Slovakia. It is the country’s second most important region, generating
approximately 13 per cent of GDP. Important economic sectors are industry,
services, agriculture and construction. Unemployment in the region stands at
25 per cent.
Representatives of the Board in the delegation will be Ugo Astuto,
representing Italy; Tomas Danestad, representing Sweden, Iceland and Estonia;
Byung-Il Kim, representing Korea, Australia, New Zealand and Egypt; Desmond
O’Malley, representing Ireland, Denmark, Lithuania and FYR Macedonia; Igor
Ocka, representing Czech Republic, Hungary, Slovak Republic and Croatia;
Olivier Rousseau, representing France; and Gabriel Palacka, advisor to the
Director for Czech Republic, Hungary, Slovak Republic and Croatia. They will
be accompanied by Alexander Auboeck, EBRD Director for Czech Republic,
Hungary, Slovak Republic and Slovenia.
During the visit the Board members will meet Slovakia’s Minister of Finance
and EBRD Governor Deputy Prime Minister Ivan Miklos and representatives of the
international and local business community. The delegation will visit several
enterprises and municipal facilities in the Kosice region.
The Slovak Republic is seen as a frontrunner of reforms among the new EU
member states from central Europe. The EBRD has invested €1.2 billion of its
own funds in the country for projects with a total value of €4 billion. The
Bank’s strategy is focused on support for small and medium sized enterprises
(SMEs), the provision of equity and mezzanine finance for local companies,
support of foreign direct investment in regions with high unemployment, and
the development of energy efficiency projects. The EBRD is also ready to
support the finalisation of the privatisation process.
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