Slovak Republic increases funding for EBRD projects
Last update: 06.07.2009 06:00
The country is a recipient of EBRD investments and since 2006 a donor to the EBRD. Jan Pociatek, the Slovak Finance Minister, and Horst Reichenbach, EBRD Vice President, speak about the Slovak - EBRD cooperation.
The Slovak Republic has just contributed €1 million to the EBRD in addition to is contribution to the multi-donor Western Balkans Fund. Why and where will this contribution be directed to?
Jan Pociatek: Having experienced the transition from central governed to a fully market-oriented economy, the Slovak Republic understands how important this transition is. Therefore we have decided to share knowledge from economic achievements with countries of our foreign policy priorities - Albania, Armenia, Azerbaijan, Belarus, Bosnia & Herzegovina, Croatia, Georgia, Kazakhstan, Kyrgyz Republic, FYR Macedonia, Moldova, Mongolia, Montenegro, Serbia, Tajikistan, Turkey, Turkmenistan, Ukraine and Uzbekistan.
Over the past 15 years, the Slovak Republic benefited from the cooperation with international financial institutions such as the EBRD and the World Bank in receiving financial, technical and know-how assistance. The Slovak Republic has benefited from EBRD support in the successful privatisation of banks, establishment of credit lines to support enterprises and the financial sector. The Slovak Republic is set to play an important role in advancing global priorities for development objectives, and sharing lessons of experience and good practices with other countries that still face large development challenges.
Since 2007 the Slovak Republic has contributed to the Western Balkans Fund the amount of EUR 700 000. As the member of the Assembly of Contributors we are enjoying close co-operation with traditional as well as emerging donors which give us an opportunity to build our donor´s capacity. Support of democratic and integration development in the Western Balkans is one of the priorities of the Slovak foreign policy.
How do you value cooperation with the Bank as a donor and a recipient of EBRD investments?
Jan Pociatek: Slovakia has after its transition and integration processes towards OECD, NATO, the EU and euro area membership become one of the key central European emerging donors. We have a better chance to benefit from the huge experience of the EBRD and together with such a strong partner, we have an opportunity to influence aid flow and know-how transfer to those countries of our close historical ties.
The Slovak Republic is one of the five new EU member states that became donors to the EBRD by contributing to the multi-donor Western Balkans Fund. How do you value its role as a donor?
Horst Reichenbach: It is very moving to see a country of operations become a donor, to see a country like the Slovak Republic that has received a lot in terms of EBRD investments, start to give to its neighbours. Slovakia joined the EBRD's multi-donor Western Balkans Fund in 2006 and its contribution is not just financial but it is also bringing this depth of knowledge about the region. Together with other donors in the Fund, Slovakia is working to approve funding for EBRD projects in the Western Balkans, which will contribute to better conditions and improved services for people in the region.