The European Investment Bank (EIB), the European Union's financing institution, is providing ECU 45 million for the development of the mobile telecommunications network in Slovenia. The loan to MOBITEL d.d., a Slovenian telecommunications company set up in 1991, will help finance the installation of a switching centre and several base stations, as well as microwave radio links and associated equipment and buildings.
Commenting on the loans, EIB Vice-President P. Gennimatas said: 'Expanding the Slovene telecommunications services is crucial for economic development in the country and its integration into the European Union. The EIB, as the major provider of funds for transport and energy infrastructure in the central European countries, is also playing a key role for developing efficient telecommunications networks (TENs) in the region, including links with the networks of the European Union.'
The present loan brings total EIB financing in Slovenia to ECU 195 million. Previous EIB loans contributed to the modernisation of the road and railway networks.
The EIB finances projects in Slovenia under mandates by its Board of Governors, i.e. the fifteen EU Ministers of Finance representing the Bank's shareholders. For the period 1997-99 loans up to ECU 3.5 billion are available for projects in Albania, Bulgaria, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia and Slovenia. In addition, the EIB will shortly launch a substantial 'Pre-Accession Facility' to help the countries in the region prepare for EU membership.
The conversion rates used by the EIB for statistical purposes during the current quarter are those obtaining on 30 September 1997, when ECU 1 = GBP 0.69, IEP 0.76, USD 1.113, SIT 183,715.