Slovakia to finance projects with EIB funds.

By bne IntelliNews November 12, 2010
Slovakia might use funding from the European Investment Bank (EIB) to co-finance projects from euro funds within the National Strategic Reference Frame for 2007 - 2013, the website webnoviny.sk reveals. The EIB loan may total EUR 1.3bn and the first tranche of EUR 350mn should be drawn at the end of the year. The total sum of the projects for the 2007-2013 period is EUR 13.85bn. European funds will cover more than 82% of the projects' value, the state budget will provide EUR 777mn and recipients' own resources should be EUR 408mn. The gap should be financed by the EIB loan. According to the finance ministry, the loan will be with more advantageous terms that the government bills issued to cover the general government deficit and debt.

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