Economy

EIB Approves €240 Million Loan for Slovakia's Green and Digital Projects

stock photo by TASR

The European Investment Bank (EIB) is providing Slovakia with a €240 million loan to co-finance environmental and digital projects supported by the European Union (EU) across the country, TASR reports based on a statement released by the EIB on Wednesday.

"We're increasing the country's capacity to draw EU grants, which will enable Slovak people and businesses to benefit from accelerated economic growth and social development," said EIB Vice-president Kyriacos Kakouris. "Our financing will strengthen cohesion and improve public services, the business environment and living standards in Slovakia," he added.

Slovakia will use EIB financing for projects aimed at improving research and innovation, digitalising the economy, supporting the growth and competitiveness of small and medium-sized enterprises (SMEs), developing workforce skills for smart specialisation, enhancing digital connectivity, increasing energy efficiency and renewable energy sources, adapting to climate change, ensuring sustainable water management, promoting circular economy practices, and protecting nature and biodiversity, the EIB stated in its announcement.

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