Slovak News Back to the news
EIB Offering Slovakia Biggest Loan in Country's History
Thursday 11 November 2010 Zoom in | Print page
Bratislava, November 11 (TASR) - If approved by Government on Friday, Slovakia will be allowed to draw up to €1.3 billion from the European Investment Bank (EIB) to boost its economy and investment growth, EIB Vice-President Anton Rop told TASR in an interview on Thursday.
The loan represents the biggest potential financial injection from EIB in Slovakia's history. The bank has already okayed it, now is the time for Slovakia to formally complete the whole process in order to draw the money from the master loan framework. The Government is set to decide on Friday.
The assistance from EIB is designed to make Slovakia's drawing of the EU Funds simpler and more effective. This means that projects seeking funding from Brussels will be facilitated when co-financed and pre-financed by EIB.
EIB is also interested in co-financing Slovakia's anti-flood programme, which is set to cost an estimated billion euros, said Rop. "It's a very useful programme and we decided to take part," he explained.
All rights reserved. Any publishing or further dissemination of press releases and photographs from TASR's resources without TASR's prior written approval constitutes a violation of the Copyrights Act.
