IN SHORT BUSINESS

Bank loan to help finish Slovak highway

A loan of Sk15 billion (€395 million) from a consortium of banks, designed to accelerate the completion of three stretches of highway and to improve the quality of the highway network, was announced on September 9, the TASR news wire reported.

The loan has been provided by eight Slovak banks to the Národná diaľničná spoločnosť (National Highway Company - NDS). It will cover a time period of 17 years.

NDS General Director Dušan Faktor made the announcement to journalists on September 9, after the long-term syndicated loan contract with the banks was agreed on June 6, 2005. The leader of the bank consortium is HVB Bank Slovakia and the agent is VÚB.

NDS can withdraw the money over a two-year period after the signing of the contract, and can withdraw Sk1 billion (€30 million) at one time. The loan will have to be paid back over 15 years.

The banking consortium was set up by HVB Bank Slovakia, VÚB, Slovenská sporiteľňa, ČSOB, Dexia banka, ING Bank, Tatra banka and UniBanka.

The loan should speed up the completion of the highway stretch between Ladce and Sverepec, Vrtižec and Hričovské Podhradie, and Važec-Mengusovce.

Get daily Slovak news directly to your inbox

Top stories

Grandson turns his blue-haired grandma into an Instagram sensation

President Zuzana Čaputová is one of her nearly 13,000 followers.

Photographer Marek Pupák takes pictures of his grandmother. He also created the blue.grandma profile on Instagram, where he posts the photos of her.

Roundup: Shoe boxes turn into Christmas gift boxes to cheer up lonely older people

People can fill and hand in their own box until December 6.

The White Night Festival takes place in Bratislava during Christmas.

Some schools will open on December 7

Matovič pushed through testing at schools, government is launching a pilot project this weekend.

PM Igor Matovič (front) and Education Minister Branislav Gröhling  (back)

Freed in the Kuciak murder case, guilty of another murder

The Specialised Criminal Court sends Alena Zsuzsová to prison for ordering the murder of former Hurbanovo mayor. She appealed against the verdict, insists she is innocent.

Alena Zsuzsová is escorted to the courtroom.