The United Nations Development Programme (UNDP) in Europe and Central Asia and the Ministry of Finance of the Slovak Republic have announced a $5.94 million extension of the Slovak Transformation Fund Project (STF) through 2028. The announcement was made during the 12th World Urban Forum in Cairo, Egypt, which brought together thousands of people to showcase urban innovations. This builds on the successful partnership between UNDP and the Slovak government to drive systemic change across the region.
The extended partnership will scale up successful components of the Project, particularly focusing on urban transformation through two key initiatives: the City Experiment Fund, which enables cities to tackle complex urban challenges through experimentation and learning, and BOOST, an impact acceleration programme supporting innovative solutions. Key focus areas include:
“The extension of the Slovak Transformation Fund demonstrates our commitment to fostering innovation and sustainable development across the Eurasia region,” said Martina Kobilicová, Acting Director General of the International Affairs Section, Ministry of Finance of the Slovak Republic. “Through this partnership, we continue to support transformative initiatives that create lasting positive change in urban communities.”
“The main objective of the Slovak Transformation Fund is to drive meaningful system transformation in Europe and Central Asia for the achievement of the Sustainable Development Goals. This will be achieved by deploying systems approaches that demonstrably enhance the effectiveness and sustainability of local ecosystems, engaging stakeholders in co-creation processes to address complex challenges, fostering innovation and resilience, and leveraging innovative finance to increase investment in pilots and initiatives that can drive change,” said Steliana Nedera, Manager of UNDP’s Istanbul Regional Hub.
The 2025-2028 extension will support at least two cohorts of cities, organized around strategic innovation portfolios of various interventions, and the launch of specific development challenges through BOOST in areas such as twin transition, gender equality, youth participation, and innovative urban governance to identify and accelerate innovative business models and solutions in the region. The project will also develop innovative financing mechanisms to mobilize public and private resources for sustainable urban development.
The extended partnership reflects both organizations’ commitment to driving sustainable, inclusive urban development and fostering innovation ecosystems that can effectively address today’s complex development challenges.
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