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EIB to give Slovakia loans for transport projects and nuclear safety

Staff Writer |
Slovakia and the European Investment Bank (EIB) signed a deal, under which EIB will provide the country with a loan worth nearly 380 million euro (434 million U.S. dollars) to co-fund transport projects and ensure safety of nuclear power plants in the country.

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According to EIB Vice President Vazil Hudak, the money can be used to build missing sections of rail and road networks along European strategic transport corridors as well as for buying train engines and carriages.

Hudak said the bank views the development of European corridors as a key factor for the Union's overall development.

Under the deal, 319.6 million euros (365 million U.S. dollars) will be used for transport projects.

Concerning the loan of 60 million euros (68 million U.S. dollars) signed with electricity utility Slovenske elektrarne, the bank is supporting nuclear safety in Slovakia.

"I think it's important not only for the Slovak people but also for neighboring countries. At the same time it's also an expression of support for low-carbon and clean electricity sources, which is also part of the EIB's overall focus in terms of environmental protection and climate change mitigation," said Hudak.

He added that the aforementioned agreement stems from legal regulations drawn up in particular following the problems at the Fukushima nuclear power plant in Japan, which were also included in Slovakia's National Action Plan.

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