Slovakia to fund Eastring and Government City from the EU’s coffer

Slovakia would like to finance the construction of the Eastring gas pipeline and the so-called 'government city' project from the European Fund for Strategic Investments (EFSI), said Slovak Prime Minister Robert Fico after meeting European Commission Vice-president Jyrki Katainen on Monday. Slovakia will contribute €400 million towards Commission President Jean-Claude Junker's investment package. The Eastring gas pipeline connecting the Velke Kapušany hub in eastern Slovakia with the Bulgarian-Turkish border, should serve as a substitute solution if Russia halts gas transit through Ukraine. The 'Government City' should make the running of ministries more efficient. According to Fico, the Slovak Government wants to create a good 'reservoir' of projects. These shouldn't compete with the standard market environment, but should serve for areas that would have much difficulty in obtaining funds. Slovakia further proposed to the Commission that it would serve as a mediator in coordinating various financial mechanisms aimed at boosting investments. For example, China has offered countries from central and eastern Europe a credit framework of $10 billion.