EBRD to focus on energy efficiency, SMEs, cross-border cooperation in Slovakia.

By bne IntelliNews December 5, 2012
The European Bank for Reconstruction and Development (EBRD) has approved a new strategy for its activities in Slovakia for the next three years that will focus on energy efficiency, small businesses and cross-border cooperation, the bank said in a statement on its website. Slovakia has made solid progress in building functioning market institutions in most sectors of the economy, but there remain significant transition challenges in terms of market structure in a number of areas, including sustainable energy, infrastructure, micro and small and medium-sized enterprises (MSME) financing and capital markets, the EBRD said. Thats why, the banks priorities for the next three years will focus on deepening financial intermediation and support for SMEs, backing investments in infrastructure, energy security and energy efficiency, and supporting cross-border cooperation and investments of leading local entities in other countries of EBRD operations in order to enhance their regional presence. EBRDs recent investments in Slovakia have been focused on energy efficiency. The bank has so far committed EUR 190mn for energy efficiency projects in Slovakia, supported by EUR 45mn in grants from various donors, mainly through the Bohunice International Decommissioning Support Fund. Since the beginning of its operations in Slovakia, the EBRD has invested over EUR 1.63bn in about 125 projects in the country, mobilising about EUR 4.4bn of financing from other sources.

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