EBRD's Pierre Heilbronn happy for Slo, sees room for improvement
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Heilbronn, who attended the Bled Strategic Forum earlier this week, said Slovenia's recovery was also good news for the EBRD, as the country's successful tackling of the challenges brought by the crisis's was among the bank's goals.
Many tasks however remain and the EBRD can contribute a lot. The official highlighted the expansion of the private sector, the boosting of cross-border investment and green projects.
While noting that Slovenia is not only a user of EBRD services but also an important stakeholder, he announced a strategy would be formulated next year in cooperation with the Slovenian authorities.
As regards the EBRD's investments in Slovenia in recent years, he highlighted cement plant Salonit Anhovo, Calcit, the manufacturer of calcium carbonate pigments, fillers and granulates, tissue maker Paloman and the SIJ steel group.
The bank also backed a few privatisation procedures, being involved for instance in the acquisition of NKBM bank.
He said the EBRD's current projects in Slovenia were directed primarily at expanding the existing portfolio and securing new clients, especially in the private sector.
While noting that a country with a growing economy always attracts investors, he argued improvements were for instance still possible in the issuing of construction permits and obtaining of loans.
From the perspective of competitiveness it would "make sense to do something" also about the labour market, to open it up a little. Heilbronn however added that this was a challenge for all member states.
He could not talk about the details of the upcoming autumn growth forecast by the EBRD, but said the forecast for Slovenia will probably be corrected upward given the good results of the first half of the year.
Heilbronn also commented on the decision of the government to suspend the sale of the country's biggest bank, NLB. He said the privatisation of the bank remained a commitment to the European Commission, which has been backed several times by the EBRD.
He said the EBRD was not hiding its disappointment and that while the final decision will be adopted by the Slovenian authorities in dialogue with the Commission, the EBRD will also pay attention to see if it can help.
The bank is also closely following developments in the troubled Croatian conglomerate Agrokor, whose situation is causing concern.
Heilbronn said stability in the region was very important, which is why the EBRD is ready to discuss extending its aid to viable projects.