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EBRD adopts new strategy for Poland
Over the past 15 years Poland has made considerable progress in the transition
process. Strong economic growth and low inflation provide sound foundations
for further expansion. However, challenges remain, as the EBRD says in its latest
strategy for Poland.
At about18 per cent Poland has the highest unemployment rate in the EU. Strong
regional disparities remain a cause for concern. Continued fiscal reform is
essential to maintain macroeconomic stability. Competitiveness, business
climate and job creation should therefore be top of the agenda.
To achieve these aims the strategy has identified the following priorities:
• Structural measures to reduce fiscal deficit and public expenditures;
• Reduction in administrative barriers, improvements in the legal framework
and efficiency of the judiciary;
• Privatisation and restructuring of enterprises still under state control;
• Consolidation of agriculture and improved access to finance by small and
middle-sized enterprises, particularly in rural areas;
• Infrastructure improvements in the environmental, public transport and
social sectors;
• Private investments in energy efficiency and renewable energy.
The EBRD will focus on:
• stimulating development of revenue backed financing and private sector
involvement in infrastructure and environment projects and public-private
partnerships in the municipal and transport sectors;
• energy saving and renewable energy projects;
• sharing risk with local and foreign investors in restructuring,
modernisation and privatisation in the more challenging sectors;
• providing risk capital to local companies to fund growth and regional
expansion;
• working with local financial institutions to provide finance to micro, small
and medium enterprises;
• contributing to the broadening of local capital market.
As of 31 December 2005, the EBRD had signed 147 investments in Poland
totalling over €3.4 billion and generated an additional €9.2 billion from
other sources.
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