Slovakia to borrow more from EIB

SLOVAKIA will borrow a further €42 million (Sk1.7 billion) from the European Investment Bank for construction of a highway stretch in the east of the country.

The cabinet approved the second payment at its session on Wednesday. An agreement for the first tranche of Sk68 million was signed by the Finance Ministry and EIB in December 2003, news wire TASR wrote.

The total cost of the highway stretch between Mengušovce and Janovce, near Prešov, is estimated at €705 million. The EIB has agreed to lend €350 million of that sum, while Slovakia will provide €195 million from the state budget and the rest will come from European Union funds.

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