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EIB loan will support agriculture and forestry projects

Finance Minister Peter Kažimír has signed an agreement to borrow €120 million from the European Investment Bank (EIB) for projects in agriculture and forestry. The March 4 loan agreement targets projects for the Rural Development Program for the period 2007-2013. It is a possibility to obtain low-interest funding with longer maturity, the Finance Ministry told SITA newswire. The loan can be drawn until November 2015. The goal of supported projects should be increasing the quality of agricultural infrastructure, reforestation and better protection of forests.

Finance Minister Peter Kažimír has signed an agreement to borrow €120 million from the European Investment Bank (EIB) for projects in agriculture and forestry.

The March 4 loan agreement targets projects for the Rural Development Program for the period 2007-2013. It is a possibility to obtain low-interest funding with longer maturity, the Finance Ministry told SITA newswire. The loan can be drawn until November 2015. The goal of supported projects should be increasing the quality of agricultural infrastructure, reforestation and better protection of forests.

“We are a reliable partner for the EIB, as is proven by the low interest rate, as well as the fact that we do not pay any fees to draw the loan,” Kažimír said.

Since 1993, the EIB has lent about €4 billion to Slovakia. The largest projects that the EIB has financed so far include the construction of the Apollo Bridge over Danube River in Bratislava, construction of new sections of highways and dual carriageways, as well as modernisation of parts of the existing roads, construction and modernisation of railway lines and utility networks.

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