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Slovakia contributes EUR 625,000 to EBRD technical cooperation fund

(ADPnews) - Oct 21, 2010 - Slovakia has made a further contribution of EUR 625,000 (USD 873,000) to a technical cooperation fund, established between the European Bank for Reconstruction and Decelopment (EBRD) and the Slovak Finance Ministry, which provides grants for EBRD projects in ODA countries.

The fund, established with an initial pledge of EUR 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 Slovakia are eligible to bid for projects supported by this 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.

(EUR 1.0 = USD 1.396)

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