The EIB is lending EUR 250 million to Slovakia to co-finance priority projects identified under the Slovak Rural Development Programme 2014-2020 that receive support from the European Agricultural Fund for Rural Development. The EIB funds will cover the national co-financing contribution to implementing projects in rural areas across the whole territory of Slovakia.

The European Investment Bank (EIB) is lending EUR 250 million to Slovakia to co-finance priority projects identified under the Slovak Rural Development Programme 2014-2020 that receive support from the European Agricultural Fund for Rural Development. The EIB funds will cover the national co-financing contribution to implementing projects in rural areas across the whole territory of Slovakia.

The EIB loan will finance projects with a total value of EUR 1.66 billion. “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. It will bring environmental benefits that are important for the improvement of living conditions, such as reduced risk of flood and forest fire damage, and increased resource and energy efficiency in agriculture, forestry and food production,” stated EIB Vice-President Vazil Hudák.

“I believe that this loan and the projects supported will help strengthen the competitiveness of small and medium-sized enterprises in the agricultural sector, or promote climate change adaptation and resource efficiency,” added Minister of Finance Peter Kažimír.

This loan builds on previous excellent experience with the Bank´s financing of investments in agriculture, forestry and rural areas. The operation will specifically contribute to the implementation of the EU’s rural development policy by supporting growth and employment in rural communities throughout Slovakia, promoting resource efficiency and boosting the competitiveness of the farming sector.

The current loan is the second EIB operation to support the financing of Rural Development Programmes in Slovakia, with the Ministry of Agriculture and Rural Development as promoter. In 2014 the EU bank signed a loan of EUR 120 million to finance investments contributing to afforestation, improved forest protection and management and the upgrading of agricultural infrastructure in rural Slovakia.