Representatives of EXIMBANKA SR and the Ministry of Foreign and European Affairs of the Slovak Republic attended a series of meetings at the highest levels of the European Commission in Brussels this week and were an active part of the conference “Scaling up Global Gateway – Strategic Coordination of External Financial Tools for the EU’s Competitiveness and Partnerships”. The aim of the conference was to bring together the European Commission, governments, multilateral development banks (MDBs), development finance institutions (DFIs), export credit agencies (ECAs), development agencies, the private sector and EU partners to scale up the Global Gateway for EU Competitiveness and Partnerships initiative. The delegation aimed to highlight the key role of export credit agencies in supporting the achievement of the EU’s strategic objectives.
Rastislav Podhorec, Director General of EXIMBANKA SR, Matúš Šársky, Director of International Relations of EXIMBANKA SR and Miloš Koterec, Ambassador of the Ministry of Foreign and European Affairs for the EU Global Gateway, attended a series of meetings at the highest levels of the European Commission in Brussels this week and were part of the second high-level conference on cooperation of financial institutions within the EU in support of the EU’s strategic interests abroad.
In a meeting with Maroš Šefčovič, EU Commissioner for Trade and Economic Security, and Koen Doens, Director General of the Directorate for International Partnerships, they underlined the key role of ECAs in supporting the achievement of the EU’s strategic objectives at all levels of competitiveness, namely:
1) Capacity building, internationalisation and strengthening the competitiveness of national exporters in the EU internal market,
2) Strengthening the competitiveness of national (EU) exporters in third country markets,
3) Supporting the EU’s strategic (development) interests by supporting higher-risk projects in third countries.
Emphasising the role of export credit agencies is particularly relevant in the context of the discussions on the EU financial framework for the period up to 2027. EXIMBANKA SR is actively seeking support for all European ECAs in this context and thus for all EU exporters, including Slovak ones.
Rastislav Podhorec, Director General of EXIMBANKA SR, during the conference on cooperation of financial institutions within the EU, presented the unique experience of EXIMBANKA SR, which was the only institution of its kind in the EU to obtain the authorization of the European Commission for delegated management and used these opportunities for successful participation in the UIF (Ukraine Investment Framework) for the reconstruction of Ukraine.
“Export credit agencies (ECAs), such as EXIMBANKA SR, play a key role in achieving the EU’s strategic objectives. ECAs mitigate political, regulatory or market risks and thus increase the attractiveness of projects. They also act as a catalyst to mobilise co-financing and ensure bankable and sustainable projects. The combination of ECAs and development finance institutions (DFIs) instruments effectively mobilizes capital and maximizes strategic and sustainable impact. In addition, EU guarantees increase risk appetite, enabling strategic development financing,” summarised Rastislav Podhorec, Director General of EXIMBANKA SR.
The conclusion of the conference underlined the need for enhanced coordination, a new EU financial instrument, simple and predictable structures especially in countries or for higher risk projects, a separate coordination function and clear criteria for selecting strategically relevant and bankable Global Gateway projects in line with the EU’s interests.
Matúš Šársky, Director of International Relations of EXIMBANKA SR and a member of the European Commission Expert Group for Coordination of ECAs and DFIs, presented to the partners how the coordination of state instruments for export promotion works in Slovakia.
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About Eximbanka
As the only direct instrument of the state for export promotion, the Eximbanka is an important part of the chain responsible for promoting the country’s economic policy in the field of external economic relations. It offers a wide range of export-related financial products, especially credit insurance, financing and guarantees. As a state export credit agency, it enables Slovak exporters to enter into trade and investment relations where the commercial financial sector is less interested in taking on risk and therefore performs a complementary function.
Media contact Martina Vráblik Solčányiová
EXIMBANKA SR
Tel: +421 903 542 072