On November 28, 2016, the World Bank signed the Reimbursable Advisory Services (RAS) agreement with the Slovak authorities and will provide technical support to: a) build technical capacity in economic modelling to support sustained growth of Slovakia’s economy, and b) contribute to preparation of a new strategy for low carbon growth in line with EU 2030 energy and climate policies. In July 2016, the Ministry of Environment created a new dedicated analytical unit – the Institute for Environmental Policy – tasked with preparation of policy advice on the economic and fiscal impacts of the transition to a low carbon economy. The World Bank is expected to provide technical expertise to help both macroeconomic and energy sector models, as well as to build technical capacity in economic modeling inside the public administration.
The RAS agreed with the Slovak counterparts includes a systematic, regular process of building the analytical tools and associated data sets with embedded training and knowledge-sharing activities. One of the three key components of the RAS is a construction of country-level energy supply and demand model (partial equilibrium economic framework) for the Slovak Republic that will complement the macroeconomic framework and provide sector and technology detail.