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Loan from EIB to boost rural development

The European Investment Bank (EIB) is expected to provide a €120 million loan to Slovakia for various projects within the Rural Development Programme for 2007-13, according to a draft agreement submitted to the government by Finance Minister Peter Kažimír. The document was approved by the government at its session on February 19. The financial resources should be used to enhance forestry, as well as for agricultural and rural infrastructure.

The European Investment Bank (EIB) is expected to provide a €120 million loan to Slovakia for various projects within the Rural Development Programme for 2007-13, according to a draft agreement submitted to the government by Finance Minister Peter Kažimír. The document was approved by the government at its session on February 19.

The financial resources should be used to enhance forestry, as well as for agricultural and rural infrastructure.

“It’s one of the EIB’s priorities to mitigate [the consequences] of climate change, which could be aided in a significant way by forestry and rural development,” reads the document, as quoted by the TASR newswire.

The Rural Development Programme is also set to contribute towards enhancing competitiveness within agriculture, food production and forestry. The estimated cost of the project amounts to €2.1 billion. In addition to the loan to be taken out from EIB, the project will also be financed from EU funds (more than €1 billion), from state coffers (€217 million), and from the recipients’ own resources (€832 million).

(Source: TASR)
Compiled by Zuzana Vilikovská from press reports
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