Slovenia: EIB increases its support for smaller infrastructure projects with EUR 50 million
18 July 2016
The European Investment Bank (EIB) is granting a EUR 50 million credit line to SID Banka –Slovenia’s national promotional and development bank – to finance smaller projects of municipalities and public enterprises as well as SMEs and midcap companies in the areas of infrastructure, energy efficiency and the environment. EIB funds will also support schemes in the fields of transport, integrated territorial development, innovation and skills, climate change and economic and social cohesion.
EIB Vice-President László Baranyay said: “EIB funds will co-finance smaller projects implemented by Slovenian municipalities to upgrade and further develop sectors of Slovenia’s infrastructure, with the focus on energy and energy savings and the environment. At the same time this will help to strengthen the SME and midcap sector cooperating with municipalities – the engine of job creation and growth in Slovenia”.
SID banka’s President and CEO Sibil Svilan commented: “This new loan facility will boost SID banka’s capacity to offer dedicated products in the area of infrastructure, energy efficiency and environment. A special programme operated in cooperation with commercial banks will enable municipalities’ investments in this field, by provision of loans on favourable terms. And at the same time it demonstrates importance and benefits of close cooperation between the EIB and SID banka in tackling challenges in the Slovenian economy. “
The EU bank has again joined forces with SID banka – a reliable and well established financing partner of the EIB, a crucial player in the Slovenian economy and a very successful financier of private and public sector projects. Thanks to the fruitful cooperation between the two financing institutions, private and public sector entities in Slovenia have received EIB funds of EUR 1.1 billion since 2009, providing them with better access to long-term finance in order to mitigate the effects of the financial crisis. Out of the volume mentioned above SID bank has already financed 52 projects of Slovenian municipalities in the amount of EUR 43 million. New EIB funds will be available shortly and also disbursed in cooperation with commercial banks.
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