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Fico: If EIB Won't Lend Us Money, We'll Find Resources Elsewhere
Thursday 29 April 2010 Zoom in | Print page
Bratislava, April 29 (TASR) - If the European Investment Bank (EIB) won't lend a billion euros to a concessioner of the first PPP (public-private-partnership) package in order to build construction of D1 highway section, Slovakia will try to find the resources elsewhere, Slovak Premier Robert Fico said on Thursday.
Speaking during a ceremony involving the raising of May poles in Bratislava on Thursday, the premier 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," said Fico, adding that his Government is "working miracles" just to accumulate financial resources.
It's EIB that represents the last link in the chain before the PPP package can be successfully wrapped up as planned on Friday, April 30. However, extending the date for highway to be build remains a possibility.
Also, the European Bank for Reconstruction and Development (EBOR) stands ready to contribute to the project with a loan of as much as €250 million. Negotiations with the private financial houses are still pending.
The overall highway construction programme is projected to cost more than €4 billion, with Slovaks bound to pay the concessioner more than €9 billion back over the course of 30 years for highway construction and maintenance.
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