Private finance complements public sector activities and resources. They are thus a prerequisite for progress in development, based on sustainable economic growth and active job creation. At present, private resources account for almost the same share of global development cooperation as public finances.
MF SR and UNDP
MF SR and EXIMBANKA SR
The beginnings
In the area of private sector engagement, the cooperation of the Ministry of Finance of the Slovak Republic (MF SR) and the United Nations Development Programme (UNDP) focuses on providing direct and targeted support to business entities in their efforts to participate in international organizations and financial institutions tenders. Since its establishment in 2018, the Resource Mobilization Facility (RMF) fund has been focusing on creating project opportunities to offer Slovak expertise in the Western Balkans in the field of green energy, digitization and energy efficiency.
The Slovak Ministry of Finance, together with the Export-Import Bank of the Slovak Republic, implements the program of engagement of Slovak entrepreneurs in projects in developing countries via two joint development cooperation initiatives: the Private Sector Liaison Officer (PSLO) and the program of preferential export credits.
The cooperation of the MF SR and UNDP in supporting private sector engagement in development cooperation began in 2014 with the launch of the Rozvojmajstri programme that was aimed at supporting the Slovak private sector in its efforts to enter developing markets.
The programme was completed.
Funding opportunities and innovations support for private sector, including information on Slovak Challenge Fund (a joint initiative of UNDP and the Ministry of Foreign and European Affairs of the Slovak Republic) are summed up in a “GrantUp” podcast. The episode is available in Czech/Slovak here.