The European Investment Bank invests €80 million in the Slovenian economy supporting development of municipal infrastructure and SMEs; total EIB investments in the country reach €7.29 billion
EIB Group supported faster COVID-19 recovery of Slovenian economy €207.2 million
The European Investment Fund provides €177.2 to support faster COVID-19 recovery of country` SMEs and mid-caps; EIF records the highest investment volume in Slovenia since beginning of operation.
EIB Advisory Services continue to support Slovenia in development of bankable projects and national strategies and action plans; JASPERS alone attracts €5.2 billion in investments in Slovenia since 2006.
The European Guarantee Fund provides 177.2 million in guarantees for Slovenian SMEs and Mid-caps.
The European Investment Bank Group, consisting of the European Investment Bank (EIB) and European Investment Fund (EIF), increased its support to Slovenia in 2021 and invested €257.2 in the country. The EIB lent €80 million in two operations, and the EIF provided €177.2 million in guarantees covering loans for SMEs, mid-caps and municipalities in three separate operations.
For both the EIB Group and the EIF, 2021 was a record year in Slovenia. The EIF reached its highest investment volume on record in Slovenia. The EIB Group increased its total annual lending by €3 million compared 2020.
The €24.4 billion European Guarantee Fund (EGF) established in late 2020 the EIB Group and 22 Member States including Slovenia to help companies in the European Union, especially SMEs, recover from the pandemic-related crisis, provided €177.2 million for Slovenian SMEs. Since December 2020, the EIB Group has approved €23.2 billion in financing with EGF backing and its investments to date are expected to mobilise €174.4 billion.
EIB Vice-President Lilyana Pavlova, who is in charge of operations in Slovenia, said: “Despite the challenges brought by the pandemic I am happy to see that the EIB Group rose to the challenge and provided solid figures for investments for Slovenia. The EIB Group proved to be a reliable partner of Slovenia even in the most difficult of times, and together with our partners in the country such as the Government of Slovenia, SID Banka and SRDF, commercial banks like UniCredit we ensured Slovenia can continue to work, grow, and develop faster, greener, and sustainably. I would like to thank Slovenian Ministry of Finance for their support for the EGF - a key support mechanism for SMEs across the EU. We have major challenges ahead of us including climate action and COVID-19 recovery but with the support like the one we enjoy in Slovenia I am sure we are on the road of overcoming them successfully.”
Andrej Sircelj, Minister of Finance in the Government of the Republic of Slovenia, said: ”During the pandemic, we adopted measures to help the people and the economy. The measures were aimed at preserving jobs and maintaining functioning of the economy. The measures were successful. It is important that during this time, we also showed solidarity at the EU level and adopted the Recovery and Resilience Facility. The RRF is focused on the green and digital transition, which shows that our goals are not only focused on growth but also on development. These goals are also supported by the EIB, which has been present in Slovenia since 1977. I believe that we will further improve this cooperation in the future and expand it to more areas.”
Over the past ten years alone, the EIB has invested some €3.02 billion in the country including €1,2 billion in credit lines for local SMEs, €500 million in development of composite infrastructure, €495 million in national transport sector, and €425 million in country`s energy sector. Additional €135 million were provided for \urban development and another €110 million for the development of fast internet in rural Slovenia.
Other sectors of the Slovenian economy have also benefited from EIB investments, including water and sewerage, and industry, education and services attracting €341 million in long-term funding from the EIB.
In 2021 the EIB Group supported faster recovery of Slovenian economy from COVID-19 with €207 million in approved operations – EIB with €30 million and EIF with €177million.
EIF’s highest investment volume in history for faster COVID-19 recovery of local SMEs
The EIF contributed to the local economy to the tune of €177.2 million, provided in three operation benefiting from EGF secured guarantees, making 2021 the most successful year on record for the EIF in Slovenia.
Since 2016, the EIF has invested close to €281 million in equity (€53 million), guarantees (€223 million) and inclusive finance (EUR 6.5million). EIF activities in 2021 reinforced and supported faster COVID-19 recovery of Slovenian small- and medium-enterprises and unlocked new sources of more affordable long-term financing crucial for maintaining liquidity and investment as well as job retention and creation.
Towards research and innovation-based economy of Slovenia
In 2021, the EIF together with Slovenia`s SID Banka and Croatia`s HBOR launched a new €40 million investment platform to support innovation, scientific research, and the protection of intellectual property in Slovenia and Croatia. The Fund will improve the use and commercialisation of research projects and scientific achievements and reinforce long-term competitiveness of Slovenian and Croatian economies.
EIB Advisory Services help Slovenia attract more than €5.2 billion in investment
In 2021, the EIB Advisory Services continued to provide valuable advisory and capacity building support to the Government of Slovenia and country`s public and private sector. In 2021 EIB Advisory Services took on six new assignments and completed five, with 13 active assignments in the country.
The EIB Advisory Services supported the Government of Slovenia, as well as country`s public and private promoters develop projects in areas such as climate and environment, energy efficiency, infrastructure, sustainable urban development, and agriculture.
Valuable support from the EIB Advisory Hub, JASPERS, ELENA and FI Compass
Since 2006, Joint Assistance to Support Projects in European Regions (JASPERS) Advisory Service alone supported preparation of investment projects worth €5.2 billion (since 2006). JASPERS, set up in partnership with the European Commission, helps cities and regions absorb European funds through top-quality projects. In Slovenia, JASPERS supported the Ministry of Environment and Spatial Planning in developing an action plan for the sustainable management of municipal waste.
European Local Energy Assistance (ELENA) works on several assignments in Slovenia including support for municipalities and state-owned companies to jointly implement a comprehensive investment programme that covers public buildings, street lighting, district heating and renewable energy worth €55 million. ELENA is also backing a sustainable mobility program with the municipality of Novo Mesto worth €98 million.
Since the beginning of its lending operations in Slovenia in 1977, the EIB has invested €7.29 billion across key economic sectors of national economy — including small and medium-sized enterprises (SMEs), transport, energy and infrastructure. In 2021 alone, we invested €80 million to support faster COVID-19 recovery of Slovenian SMEs and mid-caps and fuel faster social and economic development of Slovenia.
The European Investment Bank Group provided €254 million in Slovenia during 2020 in loans, equity and guarantees in Slovenia, an increase at the Group level of €4 million compared to the previous year. The two parts of the EIB Group, the European Investment Bank (EIB) and the European Investment Fund (EIF), invested €221 million and €33 million respectively.
The EIB Group investments in Slovenia in 2019 nearly tripled its investments in Slovenia, from last year figures, to reach some EUR 250 million in support of country`s economic and social growth, SMEs, job creation, energy security and energy efficiency and infrastructural development. With EUR 7bn invested in Slovenia since beginning of operations in the country, the EIB is today one of the biggest investors in Slovenia and a key source of affordable, long-term financing for Slovenian economy.
The European Investment Bank (EIB), the bank of the European Union, will provide €30 million to the Slovenian Regional Development Fund (SRDF) and contribute to the creation of a new credit line designed to accelerate the COVID-19 recovery of Slovenian small and medium companies (SMEs), mid-caps and municipalities.