EIB Ready to Fund Construction of D1

The European Investment Bank is willing to provide a loan worth some Sk17.5 - 19 billion (€435 - 473 million) to the soon-to-be established Dialničná spoločnosť (highway company) for the completion of a section of Slovakia's D1 motorway to Žilina.

Transport Minister Pavol Prokopovič expects the 100-percent state-owned Dialničná spoločnosť to be established in the last quarter of 2004.

The EIB representatives are ready to start talks with the company's executives immediately after it has been established. The EIB has not requested that the loan be guaranteed by the state, but they demanded the company's revenues be secured by at least 50 percent of the loan.

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