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Prime Minister says EBRD could finance R1 dual carriageway project

Prime Minister Robert Fico has announced that the European Bank for Reconstruction and Development (EBRD) may provide up to €150 million (Sk4.519 billion) to finance planned sections of the R1 dual carriageway which are due to be built via public-private partnership (PPP) projects.

Prime Minister Robert Fico has announced that the European Bank for Reconstruction and Development (EBRD) may provide up to €150 million (Sk4.519 billion) to finance planned sections of the R1 dual carriageway which are due to be built via public-private partnership (PPP) projects.

Fico said after Wednesday’s cabinet session that the EBRD had asked for further data related to the Environmental Impact Assessment (EIA) of the projects. He thinks that Slovakia's readiness to implement PPP highway projects is rated very highly.

"The R1 dual carriageway seems to be in order from a financial point of view. Now, we are trying to get the European Investment Bank (EIB) to raise the share of its co-financing from €700 million (Sk21.088 billion) to €1 billion (Sk30.126 billion)," said Fico, referring to construction of the D1 highway through PPP projects. The EBRD should take part in this project as well. The Prime Minister expressed satisfaction with his meeting with EBRD President Thomas Mirow on Tuesday.

According to Fico, if the EIB share in the financing of the D1 highway construction were to increase, commercial banks’ interest in the project would also increase. SITA

Compiled by Zuzana Vilikovská from press reports
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