EIB finances motorways and municipal projects

THE FINANCE Ministry and the European Investment Bank (EIB) signed two agreements to further finance motorways and municipal projects in Slovakia

Under the first agreements, EIB will provide Slovakia €42 million (Sk1.7 billion) for the construction of the Mengusovce to Janovce D1 motorway in eastern Slovakia. The first tranche of the loan worth €350 million was paid to Slovakia under an agreement signed in December 2003.

The EIB loan will cover 50 percent of the construction costs of the 26-kilometre-long Mengusovce-Janovce motorway stretch. The rest of the money will be provided from Slovakia's state budget and the European Union.

A second agreement granting Sk2.78 billion (€70 million) will fund municipal and small-to-medium business projects in the country relating to environmental protection, rational use and upgrade of energy, infrastructure, and healthcare establishments. Slovenská sporitelna and CSOB are involved in the funding.

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

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