If the European Investment Bank (EIB) does not lend the expected €1billion for the first PPP (public-private-partnership) package in order to help finance the construction of the D1 highway section, Slovakia will try to find the resources elsewhere, Slovak Prime Minister Robert Fico said on April 29, as reported by the TASR newswire.
Speaking during a ceremony involving the raising of May poles in Bratislava on Thursday, Fico said: “If EIB won't provide the credit – which I hope won't happen – we will attempt to find the resources needed in private banks,” as quoted by TASR, adding that his government is “working miracles” to accumulate the necessary financial resources.
The EIB represents the last link in the chain of financing to be arranged before the PPP package can be successfully closed as planned for Friday, April 30. However, extending the date to build the highway remains a possibility, TASR wrote.
The European Bank for Reconstruction and Development (EBRD) is committed to contribute to the project with a loan of as much as €250 million. Negotiations with private financial sources are still pending. The overall highway construction programme is projected to cost more than €4 billion, with Slovaks bound to pay the PPP concessionaire more than €9 billion over the course of 30 years for highway construction and maintenance.
Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.
30. Apr 2010 at 10:00