BRATISLAVA, November 12, (WEBNOVINY) – Slovakia’s record borrowing from the European Investment Bank (EIB) at EUR 1.3 billion will co-finance projects supported from EU funds in all eleven operational programs. The money will be distributed for projects focused on infrastructure and regional accessibility, knowledge-based economy and HR. EIB informed SITA at the end of the week that the loan should be available before the EC transfers the corresponding grant contribution. All projects are to be implemented by December 31, 2015 in Slovak regions under the EU’s strategic framework Convergence and Regional Competitiveness and Employment.
EIB supports priority projects that contribute to the EU’s regional policy’s objective Convergence. The bank ensures their realization and accelerates development of the Slovak economy by focusing primarily on investments that will help the country get closer to EU’s social, economic and institutional standards, stated EIB Vice President Anton Ropp, in charge of loans extended to central European countries, including Slovakia.
This is the second EIB loan to Slovakia this year. It extends the co-financing of EU fund projects. The bank provided EUR 96 million for co-funding within the National Development Plan of the Slovak Republic in the 2004-2006 programming period, and this tool was successfully implemented.
The sum of finances borrowed from EIB since 1992, including the latest loan, will exceed EUR 4 billion, and this money is to be spent on projects fostering EU goals in Slovakia.
The Cabinet of Iveta Radicova has approved on Friday a draft agreement on financing between the European Investment Bank and the Slovak Republic, the frame loan for financing priority projects within the National Strategic Reference Frame of the Slovak Republic for 2007 – 2013. The first tranche of the loan amounting to EUR 350 million should be drawn at the end of 2010.
SITA
