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Slovak state government will lend funds to finish Bratislava ice hockey arena

Instead of granting the funds needed to complete Bratislava's Ondrej Nepela Ice Hockey Arena, the Slovak government will provide the Bratislava city government a €12-million loan spanning five years at an interest rate of 3.5 percent, Finance Minister Ivan Mikloš told a press conference on February 25, the TASR newswire reported. The minister said that due to a deal closed between the former state government and the city council, the state was supposed to cover 54.23 percent of the total expenditures for reconstruction of the stadium, amounting to €74.822 million. However, doubts have emerged whether €40 million has been used in an efficient manner, Mikloš said, as quoted by the TASR newswire.

Instead of granting the funds needed to complete Bratislava's Ondrej Nepela Ice Hockey Arena, the Slovak government will provide the Bratislava city government a €12-million loan spanning five years at an interest rate of 3.5 percent, Finance Minister Ivan Mikloš told a press conference on February 25, the TASR newswire reported.

The minister said that due to a deal closed between the former state government and the city council, the state was supposed to cover 54.23 percent of the total expenditures for reconstruction of the stadium, amounting to €74.822 million. However, doubts have emerged whether €40 million has been used in an efficient manner, Mikloš said, as quoted by the TASR newswire.

"This is why an in-depth audit of the stadium's financing will ensue after the World Championships," he stated.

According to Bratislava mayor Milan Ftáčnik, the city still needs €30 million towards work that was completed as early as last year, as well as for work due to be performed later this year.

"A €12-million loan for five years is a good deal for the city, as it will help spread out the burden on the city in a more even manner," said the mayor, also advocating checks on the use of the funds. "The bad news is that all additional expenditures will be the responsibility of the city," he added.

Source: TASR

Compiled by Zuzana Vilikovská from press reports
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