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EIB grants 250-mln-euro loan to support rural development in Slovakia

Xinhua, December 23, 2016 Adjust font size:

The European Investment Bank (EIB) extended a loan of 250 million euros (261 million U.S. dollars) to support rural development in Slovakia, the bank said in a press release Thursday.

The financing will benefit the priority projects identified under the Slovak rural development program 2014-2020 that receive support from the European agricultural fund for rural development.

The EIB loan will finance projects with a total value of 1.66 billion euros (1.74 billion dollars).

"The EIB loan will help save and create new job opportunities, particularly in the less developed rural areas of Slovakia facing higher unemployment, mainly in the sectors of agri-food production and processing, forestry, rural tourism and services," stated EIB Vice-President Vazil Hudak.

The current loan is the second EIB operation to support the program in Slovakia. In 2014 the EIB signed a loan of 120 million euros (125 million dollars) to finance investments contributing to afforestation, improved forest protection and management, as well as the upgrading of agricultural infrastructure in rural Slovakia. Enditem