IFC has been working closely with the government to develop the private pension funds industry, which is expected to revive the interest of foreign investors in pension funds and raise confidence in the country's financial sector as a whole. Specifically, IFC advised the government on amending to the existing law on supplemental retirement pensions.
In 1999, at the request of the Ministry of Economy, the Foreign Investment Advisory Service (FIAS), a joint facility of IFC and the World Bank, identified the legal, regulatory, and tax impediments to foreign direct investment (FDI).
In 2001, FIAS again reviewed Slovakia's legal, regulatory, tax, and incentive framework for FDI. In addition, FIAS identified administrative barriers to foreign investment and suggested ways to improve the business environment.
IFC's Technical Assistance Trust Funds program supported a review of Slovakia's system of tax regulation and statutory accounting in relation to financial derivatives, a study of barriers to commercial mortgage lending, and a study of barriers to small and medium enterprise lending.
