Slovak Republic tops up EBRD technical co-operation fund

The Slovak Republic has made a further contribution to a Technical Cooperation Fund, established between the EBRD and the Ministry of Finance of the Slovak Republic in July 2009, which provides grants for EBRD projects in ODA countries.

The replenishment agreement for € 625,000 was signed in Bratislava on 20 October by Ivan Mikloš, Deputy Prime Minister and Minister of Finance of the Slovak Republic and EBRD President Thomas Mirow.  The Fund, established with an initial pledge of € 1 million, supports all sectors of the Bank’s work including infrastructure, legal transition, energy efficiency, renewable energy and climate change mitigation.   Slovak nationals or firms registered in the Slovak Republic are eligible to bid for projects supported by this Technical Cooperation Fund.

Grant funding is a crucial element supporting the roll out of EBRD project financing, providing additional funds to cover essential costs such as consultancy services, audits and training of staff.

The Slovak Republic was one of the first of the countries where the EBRD invests to also become a donor, joining the EBRD Western Balkans Fund when it was set up in November 2006.   Thanking the Slovak authorities for their continued commitment to supporting the EBRD’s work via grant funding, President Mirow said, “The Republic of Slovakia is continuing to make a key contribution to the work of the EBRD.  This increase in grant funding is much needed for projects in all sectors of the Bank’s portfolio.”

“The Slovak Republic is fully aware of its responsibility as a donor and technical cooperation is a key pillar of the know-how transfer. The continuous operation of this Fund provides the framework and the means for this exercise. I also understand it is a matter of capacity building on sides, the EBRD and the Slovak consultancy community”, said Minister Mikloš.

Author: Anthony Williams

Source: EBRD

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