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European Commission confirms 15 bln euros from Eurofunds for Slovakia

Xinhua, February 27, 2015 Adjust font size:

Slovakia will be allocated a total of 15.34 billion euros (about 17 billion U.S. dollars) from the European Funds in the new 2014-20 program period, confirmed the Representation of the European Commission in Slovakia on Thursday.

The European Commission is reported to have approved all seven operational programs aimed at regional development.

"Investment programs will help Slovakia to create new jobs, boost living conditions and bolster economic growth," stressed head of the Representation of the European Commission in Slovakia Andrej Kralik.

The biggest package of money worth 3.96 billion euros will be used for road infrastructure, information technology and telecommunications.

"This part of the allocation will go towards investments in road connections, railways and water transport, innovations, research and the endorsement of small- and medium-size enterprises," added Kralik.

Slovakia was allocated a total of 11.62 billion euros in the approved 2007-13 program period. The state had managed to draw 63.24 percent of these financial resources as of the end of last year. (1 euro = 1.12 U.S. dollars) Endit