The European Investment Bank is offering its biggest loan to Slovakia to date, worth euro1.3 billion (USD1.7 billion). The funding will back projects receiving grants from the European Union’s cohesion and structural funds.
The loan will cofinance projects under 11 operational programs in the sectors of infrastructure and regional accessibility, knowledge-based economy and human resources. All projects will be implemented by Dec. 31, 2015.
“The EIB supports priority projects contributing to the convergence objective under EU regional policy. It ensured their implementation and accelerates the development of the Slovak economy by focusing, in particular, on investments helping Slovakia converge rapidly towards EU socio-economic and institutional standards,” said Anton Rop, EIB vice president responsible for lending in Central Europe, in a statement.