European Bank for Reconstruction and Development - EBRD

European Bank for Reconstruction and Development - EBRD

The European Bank for Reconstruction and Development (EBRD, was established in 1991. Its headquarters is in London (United Kingdom). Since its establishment, the EBRD has been an important investor in its region of operations, which stretches from Central Europe and the Western Balkans on one side to Central Asia and the Southern and Eastern Mediterranean region (SEMED) on the other. The EBRD uses a range of investment tools to help build open and market economies in its 36 countries of operations.


The EBRD is the largest single investor in the region and mobilizes significant foreign direct investment into its countries of operations. Its shareholder base constitutes 65 countries and two intergovernmental institutions (the European Union and the European Investment Bank). While publicly owned, it invests mainly in private enterprises, usually jointly with commercial partners.


The EBRD provides project financing for the financial and the real sectors, supporting both new ventures and existing companies. It also works with state-owned companies to support their restructuring, privatization, and also improvement of municipal services. The Bank uses its close relationship with national governments in the region to promote policies that bolster their business environment.


Each EBRD investment must:


  • Help move a country closer to a full market economy (i.e. the transition impact)
  • Take risk that supports private investors and does not crowd them out
  • Apply sound banking principles


Through its investments, the EBRD promotes:


  • Structural and sectoral reforms
  • Competition, privatization and entrepreneurship
  • Stronger financial institutions and legal systems
  • Infrastructure development needed to support the private sector
  • Adoption of strong corporate governance, including environmental sensitivity


EBRD objectives are to:


  • Promote transition to market economies by investing mainly in the private sector
  • Mobilize significant foreign direct investment
  • Support privatization, restructuring and better municipal services to improve people’s lives
  • Encourage environmentally sound and sustainable development


EBRD Governing Bodies


The powers of the EBRD are vested in the Board of Governors, to which each member appoints a Governor, usually the Minister of Finance. The Board of Governors delegates most of its powers to the Board of Directors, which is responsible for the EBRD’s strategic direction. The EBRD President is elected by the Board of Governors and is the legal representative of the Bank. Under the guidance of the Board of Directors, the President manages the operations of the Bank.



The Slovak Republic and the EBRD


The Slovak Republic joined of the EBRD in 1991. The Slovak Republic is a member of a Constituency together with the Czech Republic, Hungary, the Republic of Croatia and Georgia.


Since May 1, 2016 the Director representing the Constituency in the Board of Directors is Mr. László Havas (Hungary) and the Alternate Director is Mrs. Klára Krol (the Czech Republic).


The Slovak Republic is represented in the Constituency by the Advisor to the Director, currently Mr. Mário Virčík.

The Governor for the Slovak Republic in the Board of Governors is the Minister of Finance of the Slovak Republic and the Alternate Governor is the Governor of the National Bank of Slovakia.


EBRD Activities in the Slovak Republic


The EBRD has been active in the Slovak Republic since 1992. The Bank has been an active participant in the Slovak Republic’s successful transition to a market economy, financing mainly private sector projects across a broad spectrum of economic sectors. Since 1992, the Bank has committed around EUR 2 billion to its operations in Slovakia.


More information:


The EBRD has also supported the successful privatization of banks and its current activities include infrastructure, the enterprise and the financial sectors. In addition, the Bank has launched an energy efficiency framework for the Slovak Republic with the aim to raise the share of renewable resources in energy generation and improve Slovak energy security.


The EBRD Strategy for the Slovak Republic was approved on November 13, 2012.



Donor activities of the Slovak Republic at the EBRD


The Slovak Republic – EBRD Technical Cooperation Fund


Pursuant to the Government Resolution of the Slovak Republic No. 358 of May 13, 2009, “The Slovak Republic – EBRD Technical Cooperation Fund” was established. The agreement was signed in Bratislava on July 3, 2009 and the Ministry of Finance of the Slovak Republic has so far provided an overall contribution of EUR 6.725 million to the Fund.


More information can be found here:


The purpose of the Fund is to finance the provision of advisory services and technical assistance for projects financed, or to be financed, by the EBRD within the framework of the EBRD’s mandate in the Beneficiary Countries.

The Beneficiary Countries are Albania, Armenia, Azerbaijan, Belarus, Bosnia & Herzegovina, Georgia, Kazakhstan, Kyrgyz Republic, Macedonia, Moldova, Mongolia, Montenegro, Serbia, Tajikistan, Turkey, Turkmenistan, Ukraine, Uzbekistan, Egypt, Jordan, Morocco and Tunisia.


More information about the Slovak Republic – EBRD Technical Cooperation Fund can be found here (available in Slovak only):


The European Western Balkans Joint Fund (WBF / EWBJF)


The untied, multi-donor Western Balkans Fund (WBF) was set up on November 7, 2006 (transformed into the European Western Balkans Joint Fund on December 8, 2009) with the aim to mobilize and coordinate donor funding for the Western Balkans. The aim of the Fund is to attract additional investment to the Western Balkans in order to support economic growth and stability, especially by fostering business links across the region and improving critical infrastructure.


More information can be found here:


Countries supported from the EWBJF are Albania, Bosnia and Herzegovina, Macedonia, Montenegro, Serbia and pursuant to UNSCR 1244 also Kosovo.


The Slovak Republic joined this EBRD multi-donor fund in 2006 and has contributed the amount of EUR 700,000. Contributions made to WBF/EWBJF are ODA (Official Development Assistance) eligible. Slovak consultants and firms are eligible to apply for projects financed from the WBF / EWBJF.


After its very successful first 3 years of functioning, the WBF was transformed into a wider structure – the European Western Balkans Join Fund (EWBJF) – on December 8, 2009 (in accordance with the decisions of the Economic and Financial Affairs Council (ECOFIN) of the European Union in May 2008 and January 2009). The EWBJF is jointly run by the EBRD and the European Investment Bank.



As part of the Slovak donor activities at the EBRD, the Ministry of Finance of the Slovak Republic has organized several seminars/workshops for Slovak consultants, firms and the business sector:


A seminar on “Public Procurement in EBRD Projects” was held on March 13, 2013.

A seminar on “How to do Business with EBRD – EBRD Market for Slovak Consultants” was held on June 26, 2012.

A seminar on “How to do Business with EBRD – EBRD Market for Slovak Consultants” was held on March 4, 2010.

A workshop on “Enhancing energy efficiency and transition impact in built environment – participation of the Slovak’s consultants and suppliers in the EBRD’s projects” on was held December 9, 2008.

A seminar on “How to do Business with EBRD – Opportunities for the Slovak Private Sector” was held on September 12, 2007.



Cooperation with the EBRD – useful information for the Slovak consultants, firms and the business sector:


· Basic information on the EBRD countries of operation and sectoral priorities:


· Overview of open projects / invitation of expression of interest for consultants and consultant firms:


· Approved and signed projects:


· Basic information about the EBRD procurement and procedures:


· EBRD Procurement Policies and Rules (in effect since May 2010):



Main EBRD Documents:


The Agreement Establishing the EBRD:


Annual Reports:


Donors and activities:





European Bank for Reconstruction and Development

One Exchange Square
London EC2A 2JN
United Kingdom

Tel.: +44 20 7338 6000
Fax: +44 20 7338 6100
Web site:


EBRD Bratislava Office (open since 1993)

European Business Centre (2nd Floor)
Suché mýto 1
811 03 Bratislava
Slovak Republic

Tel.: +421 2 5910 1700
Fax: +421 2 5910 1750
Director: Graeme Hutchison