New EBRD strategy for the Slovak Republic: a green, resilient economy

The European Bank for Reconstruction and Development’s (EBRD) Board of Directors has approved a new country strategy for the Slovak Republic, which will guide the Bank’s investments and policy engagement in the country in the 2023-28 period.  

The key priority of the new strategy is to advance the green transition and foster economic resilience.  

For example, the EBRD invested €100 million in the first Minimum Requirement for Own Funds and Eligible Liabilities (MREL)-eligible issuances by Slovak banks, of which €80 million were green bonds.  

In close cooperation with the Ministry of Finance and the National Bank, the EBRD helped develop new covered bond legislation, which entered into force on 1 January 2018 and brought about notable improvements recognised by issuers and investors. Rating agencies assigned the Slovak Republic’s first AAA rating to a covered bond programme. The EBRD itself participated in multiple covered bond issuances to the tune of €190 million.  

To increase the access of small and medium-sized enterprises to alternative financing, such as equity, the Bank invested in several regional equity funds.  

In total, since the start of its operations in the Slovak Republic, the EBRD has invested €3 billion in the country – reaching that milestone just as the new strategy was being approved.