LJUBLJANA (Slovenia), January 10 (SeeNews) - The European Investment Bank (EIB) said on Monday it has teamed up with Slovenia's development bank SID Banka to provide jointly 100 million euro ($113.2 million) for investments in municipal development in Slovenia.
EIB will provide 50 million euro to SID Banka to create a new source of more affordable financing for investments in small infrastructure projects promoted by Slovenian municipalities, the bank of the European Union said in a press release.
SID Banka will match the EIB investment with own funds.
Thanks to that partnership, local governments and their public companies will be able to finance small-scale infrastructure projects, energy efficiency measures and environmental protection initiatives in their local communities.
“The operation accelerates the green and sustainable development of Slovenia, improves the quality of life and the conditions for doing business in the country, and strengthens economic, social and territorial cohesion in the European Union,” EIB said.
($= 0.883 euro)
SID Banka d.d. is among the biggest banks in SEE, for more reference take a look at Top 100 banks