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BRATISLAVA -- Slovakia's new government said Tuesday it had approved a guarantee for a $40 million loan from the European Bank for Reconstruction and Development for aluminum maker Slovalco AS.
The loan is the first instalment of $110 million the EBRD is to provide to Slovalco, subject to loan guarantees, under last year's agreement, officials said.
The money is to be used for a program that includes measures to reduce the environmental impact of aluminum production.
Slovalco AS is a fully-owned subsidiary of Zavod SNP, Slovakia's biggest aluminum-maker.
A statement added that the cabinet had approved "additional guarantees in regard to foreign investments into Slovalco AS."
ERBD Loan Secure for Slovalco AS
30 March 1994
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