Luxembourg, 11/01/2008 (Agence Europe) - The European Investment Bank (EIB) is lending SKK 700 million (approx. €21 million) to the Bratislava self-governing region for co-financing projects focused on the upgrading of the region's infrastructure. The loan is structured as a framework operation under which the Bank will finance a number of priority investments of the Bratislava self-governing region, mainly in the sectors of education, culture, social care and transport.
Sub-projects will be selected by the region and assessed by the Bank so as to ensure the financing of high quality projects that will effectively promote the development of the region. Based on the region's current sound financial situation and its favourable outlook, the loan is being provided without additional security. It constitutes a flexible credit line under which the region may draw funds over the next four years in accordance with its needs. The Bratislava region is regarded by the Bank in the same way as any other local authority in the European Union. Based on the Bank's assessment of the region's financial standing, Bratislava has access to similar terms and conditions as its peers, for instance in Italy, Spain or the Czech Republic. Bratislava is the third Slovak self-governing region to receive an EIB loan. In 2006, the EIB granted similar framework loans for financing mid-term investment programmes to the self-governing regions of Prešov (€39 million) and Košice (€42 million), both located in the eastern part of Slovakia. (O.L.)