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Recovery fund: one billion euro for Slovakia’s green transformation

The EU Recovery Fund will bring 6 billion euro to Slovakia, attracting investments in sectors such as the green economy, healthcare, education, science and research, as well as public administration and digitalisation. 

As more than 30 per cent of the fund must be allocated for the Member States’s green transformation, one billion euro will specifically target the environment and the wellbeing of Slovakians. The Ministry of Environment highlighted three priorities: green renovation of buildings, adaptation to climate change and decarbonisation of the industry.

The largest part of the package, up to 500 million euro, will target a comprehensive renovation of houses. The Ministry has prepared a project called Green Houses, which aims to support 40,000 family house renovation projects.

“It will be a unique project in the post-revolutionary history of Slovakia, which has not been implemented by any other previous government,” stressed the Minister of Environment Ján Budaj. 

Overall, the project aims to reduce the energy intensity of homes by 30 per cent. The State will contribute half of the eligible costs of the project, while applicants will also be offered other forms of financing. 

Moreover, 150 million euro will be invested to promote biodiversity and climate change adaptation. The priority of the Ministry is the reform of the regulations around the protection of nature and wastewater management. According to Minister Budaj, it is important to focus on supporting forests and the aim of the Ministry is to keep people in the mountainous areas of Slovakia, through the support of natural management and tourism projects.

Finally, the third important area is the decarbonisation of the industry. Slovakia is one of the most industrialised countries in the EU, which means higher production of industrial emissions than the EU average. Without decarbonising the industry, it will not be possible to achieve carbon neutrality and meet the EU’s environmental goals. For this area, the Ministry envisages investments worth 350 million euro.

“We need a viable and modern industry that will not exclude environmental protection,” said Minister Budaj. “We will focus on supporting scientific research projects, introducing new technologies and innovations to make Slovakia a competitive country on the international stage.”

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