The Slovak Republic overview

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Cityscape at night

In the Slovak Republic we focus on:

Deepening financial intermediation and support for SMEs. The EBRD’s engagement in the financial institutions sector is focussed on further enhancement of the availability of credit finance to small and medium-sized local enterprises as well as to small municipalities with an emphasis on deepening financial intermediation to SMEs in the less developed regions of the country. The EBRD also seeks to expand programmes implemented through commercial banks providing funding and expert assistance for small energy efficiency and renewable energy investments. We are also pursuing opportunities with financial intermediaries on equity and mezzanine financing.

Supporting investments in infrastructure, energy security and energy efficiency. The EBRD is supporting the development of viable financing structures to secure long term financing for projects in the commercial infrastructure sector through co-operation with other IFIs and private sector participants. We are promoting the diversification of energy supply with a focus on renewable energy sources and energy efficiency throughout sectors to enhance energy security, reduce energy intensity and meet EU environmental targets.

Support cross border co-operation and investments of leading local entities in other countries of EBRD operations in order to enhance their regional presence.

As well as being a country where the EBRD works, the Slovak Republic is also an EBRD donor. In 2013 the Slovak Republic confirmed a replenishment of €3.5 million to its bilateral fund to support transport, MEI, energy efficiency and public procurement projects. Geographically, the Western Balkans remains a priority both bilaterally as well as in the context of the Western Balkans Investment Framework.

The EBRD’s latest strategy for the Slovak Republic was adopted on 13 November 2012

Current EBRD forecast for the Slovak Republic’s real GDP growth in 2015 3.1%

Current EBRD forecast for the Slovak Republic’s real GDP growth in 2016 3.2%

The Slovak Republic has this year benefitted from stronger Eurozone growth, and our expectation for GDP growth was upgraded to 3.1 per cent. Solid investment growth of 8.8 per cent in the first half of 2015 mirrors an acceleration of utilisation of EU structural funds in the final year of disbursements. As an economy that is highly dependent on exports (which account for 80 per cent of GDP), the Slovak Republic is exposed to a global trade slowdown. The concentrated export structure in the automotive sector and electronics could be an additional vulnerability if significant investors or certain technologies undergo adjustment. A major new investment by Jaguar-Land Rover, will boost investment from 2017, further entrenching this concentration.

Slovak Republic in the EBRD’s 2015-16 Transition Report

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