€150 million EBRD loan paves the way for Slovak motorways

By Axel  Reiserer


Bank supports extension of network and trans-European links

The European Bank for Reconstruction and Development (EBRD) is supporting the construction of new sections of the D4 highway and the R7 expressway in the Slovak Republic with debt facilities of up to €150 million.

The funds are part of a larger package totaling €875 million provided to the concessionaire Zero Bypass Limited under a public-private partnership (PPP) scheme. Other participants include the European Investment Bank (EIB), the Slovak Investment Holding, Instituto de Credito Oficial (ICO in Spain) and Unicredit, CSOB, SMBC and Credit Agricole as commercial lenders.

The investment includes sections Jarovce to Ivanka Sever and Ivanka Sever to Rača of the D4 highway, totalling 27 kilometres and which are parts of the comprehensive Trans-European Network development programme. Together with the R7 expressway, they will provide a connection between the D1 and D2 highways in the Slovak Republic. The R7 expressway, with a total length of 32 kilometres from Prievoz to Holice, will connect the D4 and D1 highways and provide access to the city of Bratislava from the south east. It will also improve the connection between the industrial zones and urban districts of the country.

Sue Barrett, EBRD Director for Transport, said: “This is a very important project and the EBRD is pleased to join forces with other financiers to make it happen. The new road sections will play an important role in easing traffic congestion around Bratislava, open up access to other parts of the country and connect the Slovak Republic with Trans-European Networks. Bringing together public and private partners, it demonstrates the benefit of PPP solutions for large infrastructure projects where each party can participate to the best of their strength.”

Zero Bypass Limited is owned by Macquarie Corporate Holdings Pty Limited, Cintra Infraestructuras International S.L.U. and Porr AG. Following an open tender process, the company won the contract to design, build, finance, operate and maintain the newly-built sections of D4 and R7 for 30 years.

The EBRD has been investing in roads as part of its work in transport development since its establishment 25 years ago. Previous investments in the Slovak Republic include a loan for the construction of the R1 motorway, The EBRD has invested over €2 billion in the Slovak Republic since the start of its operations in the country.