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The European Investment Bank (EIB) is lending EUR 25 million to finance the development of public infrastructure in the Prešov Region (Eastern Slovakia). EIB funds will help to implement Prešov’s Regional Development Strategy, the objective of which is to develop the region into one that is attractive for the local population, investors and visitors alike as well as to increase the level of economic development and the standard of living. In parallel and complementary to this loan the EIB will support the investment preparation of energy efficiency and renewable energy use in the region’s public building stock via the European Union-funded ELENA facility.

More specifically, the projects to be financed are aimed at upgrading the regional road network, developing education, social care and cultural facilities, as well as fostering energy saving measures and preventing floods.

Mr László Baranyay, EIB Vice-President with responsibility for lending in Slovakia, stated: “The EIB funds, which have been provided to the Prešov Region on favourable terms, will serve to improve the infrastructure of this most populated region in Slovakia. The EIB is proud to support the Region’s key development objectives:  (i) to improve the quality of life of its citizens, (ii) to strengthen its competitiveness and (iii) to create new employment opportunities.”  

The current loan builds on the excellent cooperation between the EIB and the Prešov Region, originally established through a loan of SKK 1.3 billion (EUR 34 million) signed in 2006. The first EIB loan was utilised to finance improvements in local infrastructure in the areas of transport, education, services and health.

The preparation of good quality investment projects that will improve the energy performance of public buildings and public lighting needs substantial additional efforts by the Prešov Region. With the financial support made available through the ELENA facility (EUR 1.09 million) the Prešov Region will be able to prepare investments using innovative contractual set-ups like ‘energy performance contracting’, which will serve to refinance the investments through energy savings. The support will also help municipalities within the region to improve the energy performance of their buildings (schools, etc.) and public lighting.