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World Bank fines Slovakia

SLOVAKIA will have to pay millions of crowns in fines because it did not draw funds from a World Bank loan. The loan is one of two granted by the World Bank specifically to help the Slovak government fulfil its healthcare reform goals.

The country has so far drawn funds from one of the World Bank loans to improve and modernise healthcare, but it will have to pay a fine for not tapping into the second, the daily Pravda has reported.

The amount of the fine has been set for 0.85 percent of the loan annually, which amounts to Sk20 million (€500,000) each year the money is not touched. The Ministry of Healthcare says it is using the loan for relevant projects only. About the fine, Healthcare Minister Rudolf Zajac said, "It is not that much money.”

The ministry has so far used one loan to pay consultants and advisors who are helping prepare the reform, and to cover printing costs for patient bulletins. The ministry has earmarked the second loan to support other institutions, such as hospitals and insurance companies.

Compiled by Marta Ďurianová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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