BRATISLAVA, October 20, (WEBNOVINY) – In the next five years, Slovakia will participate in capital increase of the International Bank for Reconstruction and Development (IBRD) by USD 6.218 million. This stems from a proposal of Slovakia’s participation in the general strengthening of IBRD’s capital, which the Cabinet of Prime Minister Iveta Radicova approved on Wednesday. Slovakia’s financial participation in the increase of the bank’s capital will be paid from the state’s financial assets over the next five years and will not affect the deficit of the general government budget.
According to the 2011-2013 general government budget, EUR 2 million should be paid next year, while the exact volumes to be paid in the following years will be included in the respective budgets, the Finance Ministry stated. The capital provided by Slovakia will be accounted for as the country’s official development aid.
During the spring meetings of the International Monetary Fund and the World Bank Group in April 2010, all the member states agreed to strengthen the capital of the World Bank Group, which includes the IBRD, by the total of USD 86.2 billion to the level of USD 276.1 billion. The general increase of the capital represents USD 58.4 billion from the total amount and concerns all member states and their participation as determined on the basis of the share each country has in the basic capital of the bank. Paid up capital represents 6 percent from the total volume of the general increase of the IBRD capital.
SITA
