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World Bank closing its office in Slovakia

The World Bank's representation to Slovakia has come to an end.

The World Bank's representation to Slovakia has come to an end.

The country has achieved significant progress and its future development does not require the operation of the World Bank's office in Bratislava, the SITA newswire wrote. On June 2, the World Bank Vice President for Europe and Central Asia Shigeo Katsu came to officially close the office. He also met with Slovakia's President Ivan Gašparovič. He described the existing cooperation with Slovakia as very good and expressed his belief that it will continue despite closing down the office.

Slovakia's transformation should thus serve as an example for other countries, such as those in the Balkans. Gašparovič suggested a more specific way of future cooperation between Slovakia and the World Bank.

"We know that a European center for Europe, Asia and Africa is to be established somewhere in Central Europe. That is why I have asked the vice president to keep Slovakia in mind. We would gladly take up this role, because cooperation has been on a really high level," said Slovak President.

Termination of the World Bank's representation to Slovakia is the culmination of economic progress that the country has achieved. The country is shifting from beneficiary of development aid to provider of development aid. Slovakia's government initiated the shift, which was approved by the World Bank. It should be completed by this fall. SITA

Compiled by Zuzana Vilikovská from press reports
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