IN SHORT

EBRD stops supporting new EU members

THE EUROPEAN Bank for Reconstruction and Development (EBRD) has halted support for eight new EU member states, including Slovakia.

According to the Pravda daily, the growing economic health of the new EU members means that the bank can move further east with its support.

"Investments in Slovakia, the Czech Republic, Poland, Hungary, Estonia, Lithuania, Latvia and Slovenia will gradually decrease. Next year we will start shutting down our branches and redirecting the money to states that need it more," said Jean Lumierre, the bank's president.

The EBRD was established 15 years ago to help the former communist states in their transitions to market economies. In Slovakia the bank supported small and medium-sized businesses in particular by providing credit to banks and leasing firms and privatized companies.

Starting in 1992 the bank invested €1.1 billion in Slovakia.

The processing of personal data is subject to our Privacy Policy and the Cookie Policy. Before submitting your e-mail address, please make sure to acquaint yourself with these documents.

Top stories

Is the state aware of the Orwellian dimensions of the surveillance of journalists?

Our paranoias have come to life. Surveillance of journalists is unacceptable in a democracy.

Murdered journalist Ján Kuciak was surveiled, too.

Free events for the whole family. Bratislava City Days have started

The history of the April celebrations dates back to the 13th century.

Original charter issued by Andrew III granting municipal privileges to Bratislava.

Bratislava will host the first technology festival

Apart from technology novelties, visitors will find the biggest game zone on the Danube embankment.