Background information

Slovenian export and development bank (SID bank) is a state-owned bank which provides insurance and financial services designed to supplement financial markets for the higher competitiveness of the economy, creating new jobs and sustainable development of Slovenia.

Established in 1992 as the Slovenian Export Corporation (SID) for managing insurance of export for Slovene companies, its activities have expanded to long-term financial services with the Slovenian Export and Development Bank Act (ZSIRB), adopted in 2008. During the financial crisis, the bank provided counter-cyclical financial support to businesses. Since 2020, it has reassumed this role for helping industries most hit by the COVID-19 pandemic.

In recent years, it is becoming a central financial institution for promoting environmental projects in circular economy and energy efficiency areas

Content of measure

The SID bank supports business development, restructuring, and internationalisation of companies in line with the development aims of the European Union and the Republic of Slovenia.

It complements commercial banks with long-term funds and other financial instruments in market gaps. The bank acquires most funds through borrowing on the international financial markets and transmits them to the economy in repayable forms. As the sole shareholder, the Republic of Slovenia is responsible irrevocably and without limitations for SID Bank’s liabilities. On behalf of the Republic of Slovenia, the bank provides two services: insurance for international commercial transactions against non-marketable risks and long-term financial services.

Under the second, the bank renders financial services (such as loans, warranties and other forms of guarantees, factoring, financial leasing, concession credits, etc.) that complement the market in the areas where market gaps emerge:

1. development of small and medium enterprises and entrepreneurship,
2. research, development and innovations,
3. environmental protection, energy efficiency and climate change,
4. international business transactions and international economic cooperation,
5. regional development,
6. economic and public infrastructure.

SID Bank renders all financial services to generate direct or indirect benefits for the users without pursuing the goal of generating maximum profit.

Use of measure

In 2021, the SID Bank offered six programmes in the field of financial engineering: MSP7 (financing the performance and capital consolidation of small and medium-sized enterprises), MSP9 (mitigation of liquidity problems caused by the pandemic), NALOŽBE3 (support to the circular economy), RR3 (support to technology and development projects), LES1 (financing investments in the forest-wood chain), PROMET1 (aid for road transport companies hit by the pandemic). Moreover, the bank managed the Fund of Funds FI 2014-2020 (financial instruments that will contribute to the achievement of the objectives of the European EU Cohesion Policy) and Fund of Funds COVID-19 (financial instruments to mitigate the effects of the economic crisis caused by the pandemic for 2020-2023).

In 2021 the balance sheet value was €2.8 billion.

The SID Bank received the Best Regional Development Bank – Southeastern Europe 2019 by the Capital Finance International.

Target groups

Workers	Businesses	Citizens
Does not apply to workers	Applies to all businesses	Does not apply to citizens

Actors and funding

Actors	Funding
National government	European Funds National funds Other

Social partners

Social partners' role in designing the measure and form of involvement:

	Trade unions	Employers' organisations
Role	Unknown	Unknown
Form	Not applicable	Not applicable

Social partners' role in the implementation, monitoring and assessment phase:

• Unknown
• Main level of involvement: N/A

Involvement

Unknown.

Views and reactions

Unknown.

Sources

• 17 April 1992: Slovenian export and development bank - SID bank (Slovenska izvozna in razvojna banka - SID banka) (company webpage (www.sid.si)
• 06 June 2008: Slovenian Export and Development Bank Act (Zakon o Slovenski izvozni in razvojni bank, ZSIRB) (www.sid.si)
• 07 April 2022: SID bank, Annual report 2021 (www.sid.si)