February 22, 2010 (FinancialWire) — IBM (NYSE: IBM) said it has been selected by the Ministry of Finance of the Slovak Republic to provide technical assistance services for the design, development and implementation of an integrated finance information system for the country. IBM said the contact runs for three-year and is worth 56 million euro.

According to the contract, IBM will standardize Slovakia’s fiscal system by integrating and streamlining existing processes into a unified collection platform.

The company said that its solution will improve the transparency and accountability of Slovak public fiscal management, supporting decision making and governance.

IBM said the project will be funded from European Union structural funds and co-financed from the state budget.

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