Ljubljana, 21 December (STA) - Slovenia and the European Investment Bank (EIB) signed on Friday an agreement on a EUR 500m loan which will facilitate the co-funding of projects with EU money, including structural, cohesion and regional development funds.
The EIB provides loans such as the one signed today by Finance Minister Janez Šušteršič and EIB vice-president Anton Rop to most EU countries eligible for structural and cohesion funding.
Šušteršič stressed that the loan was very important for Slovenia since it had much better conditions than those available on the market and since the country was now using a possibility it had not previously used.
Slovenia is "practically the last EU member" to take out such a loan, Rop pointed out, adding that the EUR 500m loan was the biggest to Slovenia from the EIB so far and one of the most favourable Slovenia would ever get.
Rop explained that the 25-year loan with a 7-year moratorium on payment of the principal would allow Slovenia to co-finance investments totalling at EUR 3bn.