Slovakia to Contribute €2 mn to New Slovak Inclusive Growth Account

Bratislava, December 8 (TASR) – Finance Minister Peter Kazimir (Smer-SD) and Council of Europe Development Bank (CEB) Governor Rolf Wenzel signed an agreement on setting up a Slovak Inclusive Growth Account (SIGA) in Paris on Wednesday (December 7), TASR learnt from the Finance Ministry on Thursday.

Slovakia will contribute €2 million towards the account.

SIGA is the first bilateral fund between Slovakia and the CEB as well as the first bilateral fund within EU-member states that joined the Union in 2004. Kazimir stressed the bank’s key role in strengthening social cohesion in Europe and confirmed Slovakia’s commitment to supporting inclusive economic growth.

The newly established account is aimed at financing technical assistance and activities related to project preparation in the field of economic and social transformation, such as feasibility studies, assessments of environmental and social impacts, business plans and consultancy services.

According to Kazimir, SIGA offers scope for Slovakia to become more visible as a donor country in international circles as well as for Slovak firms and consultants to participate in the CEB’s international tenders.

Slovakia has been a CEB member since 1998. Since 2012, the bank has approved investments in Slovakia totalling more than €900 million mainly in the sectors of modernising urban and rural areas, creating and preserving jobs and environmental protection, social housing and education.