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World Bank to Advise Slovakia on its 2050 Low Carbon Strategy

November 28, 2016

BRATISLAVA, November 28, 2016 – Today, the Ministry of Environment of the Slovak Republic, represented by László Sólymos, Minister of Environment, and the World Bank, represented by Tony Thompson, World Bank Country Manager for Bulgaria, Czech Republic and Slovakia, signed a new Reimbursable Advisory Service Agreement (RAS). The new RAS will assist the Slovak Republic in economic modeling for energy and climate policy, and contribute to the national 2050 Low Carbon Strategy.

The World Bank will provide training activities in economic and energy sector modeling to dedicated group of experts from the public administration. The Bank will also prepare a low-carbon study, which will serve as a building block to the Slovakian strategy in line with the 2030 EU energy and climate policy framework and the path towards 2050.

"I am pleased that the World Bank, which has very solid experience in low carbon development and green growth, accepted our offer and will be our advisor and partner for the next 18 months", said Mr. Sólymos at the signing ceremony. "The World Bank will also assist us with designing and conducting training for the team of experts coming from different ministries and from academic and scientific field," stated the Minister.

The 2030 EU energy and climate policy framework includes a binding target for the EU to reduce the greenhouse gas emissions (GHG) by 40 percent below 1990 levels, by 2030. Renewable energy is expected to constitute at least 27 percent of EU final energy consumption in 2030 and the energy efficiency target was set at 27 percent. Both targets are indicative for the EU individual member states but more detailed regulations have been adopted or are forthcoming and will require careful analysis and planning at the national level. Under the new agreement, The World Bank will assist the Slovak Republic to meet these targets.

“I am delighted that we can offer to the Ministry of Environment our global experience at the time of the Presidency of the Council of the EU”, said Tony Thompson, World Bank Country Manager for Bulgaria, the Czech Republic, and Slovakia.

In July 2016, a dedicated government analytical unit was created and will be the principal beneficiary of the RAS activities. It will coordinate and cooperate closely with sectoral experts from other ministries and agencies. The economic modeling tools and their analytic findings produced will provide detailed and data-driven advice to the Slovak Government on macroeconomic and sectoral impacts of policies and investments associated with a transition to a low carbon economy.

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